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TB MC Qu. 07-80 A company factored... A company factored $45,000 of its accounts receivable and was charged a 4% factoring fee. The journal entry

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TB MC Qu. 07-80 A company factored... A company factored $45,000 of its accounts receivable and was charged a 4% factoring fee. The journal entry to record this transaction would include Multiple Choice Debit to Cash of $45,000, a dobit to Factoring Fee Expense of $1,800, and a credit to accounts focevable of $46.800 Debit to Cosh of $45.000 and a credit to Accounts Receivable of $45.000, Debit to Cash of $43,200, a debit to Factoring Fee Expense of $1,800, and a credit to Accounts Receivable of $45.000 Debit to Cash of $46,800 and a credit to Accounts Receivable of $46,800 Debit to Cash of $45,000 and a credit to Notes Payable of $45,000

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