On march 3 sheridan company sells 707 700 of its, Accounting Basics

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On march 3 sheridan company sells 707 700 of its

Problem

On March 3, Sheridan Company sells $707, 700 of its receivables to National Factors Inc. National Factors Inc. assesses a service charge of its receivables to Western Factors Inc. Western Factors Inc. assesses a service charge of 5% of the amount of receivables sold. Prepare the entry on Sheridan Company books to record the sale of the receivables.

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Accounting Basics: On march 3 sheridan company sells 707 700 of its

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Accounting Basics: On march 3 sheridan company sells 707 700 of its

Reference No:- TGS02706952

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