The trial balance of Oriole Paints at December $31,2014,$ includes the following:

Debits

Credits

Accounts Receivable

$$93,000$

Allowance for Doubtful Accounts

Sales $($all on credit$)$

SALE OF ACCOUNTS RECEIVABLE

Present the journal entries specified below.

A$.$ Oriole Company sells $$174,000$ of accounts receivable to Buyout Factors Inc. for cash less a $2\mathrm{.}5\%$ service charge. Record

the sale.

B$.$ Oriole Company sold merchandise for $$7,000$ and accepted the customer's VISA card. VISA charges a $3\mathrm{.}5\%$ service

charge. Record the sale.

$($Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit

entries.$)$

Date Account Titles and Explanation

Debit

Credit

A$.$

B$.$