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Recording the Sale of Accounts Receivable with Recourse On April 1. DOS Company sold $24,000 accounts receivabie to PS2 Finance Company to obtain immed ate
Recording the Sale of Accounts Receivable with Recourse On April 1. DOS Company sold $24,000 accounts receivabie to PS2 Finance Company to obtain immed ate cash. The related allowance for doubthal accauints was $960. The financal agreement specified a price of $20,400 on a with recourse basis. DO5 estimated a $490 recourse liatility. Required Prepare the journat entry for Dos company to seil the accounts recewable. - Note: if a line in the joumal entry isn't recumed for the transaction, select "N/" as the sccount name and liedve the Dr. and Ch amswers bilonk izerof
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