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Recording a Sale of Accounts Receivable With Recourse Exon Company sold accounts receivable of $10,000 for $9,000 cash, with recourse. Estimated obligations due to the
Recording a Sale of Accounts Receivable With Recourse Exon Company sold accounts receivable of $10,000 for $9,000 cash, with recourse. Estimated obligations due to the with-recourse provision amounted to $700. Record the sale of receivables entry for Exon Company. Note: If a line in the journal entry isn't required for the transaction, select "N/A" as the account name and leave the Dr. and Cr. answers blank (zero). Account Name Dr. Cr. Cash 0 Allowance for Doubtful Accounts 0 Recourse Liability 0 Accounts Receivable 0 0 0 0 0 0
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