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.)
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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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.)
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