Jervis sells 4000 of its accounts receivable to northern


Question - Jervis sells $4,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 2% factoring fee. What entry should Jervis make to record the transaction?

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Accounting Basics: Jervis sells 4000 of its accounts receivable to northern
Reference No:- TGS02894833

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