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Question I 3 pts DH Hardware Store factors $100,000 of receivables to Friendly Factors Enterprise. Friendly Factors assesses a service charge of 2% on
Question I 3 pts DH Hardware Store factors $100,000 of receivables to Friendly Factors Enterprise. Friendly Factors assesses a service charge of 2% on the factored receivables. The hardware store's required entry to record the factored receivables includes a $2,000 increase in Bad Debts Expense Unearned Revenue Allowance for Doubtful Accounts Service Charge Expense Question 2 3 pts Having one person responsible for the related activities of ordering merchandise, receiving goods, and paying for them is an example of good internal control. is a good example of safeguarding the company's assets. increases the potential for errors and fraud. decreases the potential for errors and fraud.
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