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Reema Furniture factors $200,000 of receivables to Kroton Factors. Kroton charges a service commission of 2% of the accounts receivable sold. Record the journal entry

Reema Furniture factors $200,000 of receivables to Kroton Factors. Kroton charges a service commission of 2% of the accounts receivable sold. Record the journal entry for Reema Furniture for the sale of the receivables. Debit: Debit: Credit:

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