Whispering Furniture factors $590000 of receivables to Marigold Factors, Inc. Marigold Factors assesses a 4% service charge on the amount of receivabies sold. Whilspering Furn tufe fictors its recelvables regularly with Marigold Factors. What journal entry does Whispering make when factoring these recelvables? Net credit sales for the month are $630000. The accounts receivable balance is $150000. The allowance is calculated as 10% of the receivables balance using the percentage-of-receivables basis. If the Allowance for Doubtful Accounts has a credit balance of $7900 before adjustment, what is the balance after adjustment? $22900 $15000 $7100 $15790 Teal Mountain Company uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $300000 and credit sales are $3010000. Management estimates that 4% of accounts receivable will be uncollectible. What adjusting entry will Teal Mountain Company make if the Allowance for Doubtful Accounts has a credit balance of $3000 before adjustment? An analysis and aging of the accounts receivable of Sheridan Marine Service Company at December 31 reveal these data: What is the cash realizable value of the accounts receivable at December 31 after adjustment? $2833000 $2900000 $2463000 $3270000 The interest on a $13000,6%,30-day note receivable is (Use 360 days for calculation) $130. $390. $195. $65