On March 3, Sandhill Appliances sells $764, 900 of its receivables to Western Factors Inc Western Factors Inc. assesses a service charge of 6% of the amount of receivables sold. Prepare the entry on Sandhill Appliances books to record the sale of the receivables. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

On March 3, Sandhill Appliances sells $764, 900 of its receivables to Western Factors Inc Western Factors Inc. assesses a service charge of 6% of the amount of receivables sold. Prepare the entry on Sandhill Appliances books to record the sale of the receivables. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 26Q: A customer was unable to pay the accounts receivable on time in the amount of $34,000. The customer...

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