Solved: Westside textiles decides to sell 837900 of its accounts, Accounting Basics

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Westside textiles decides to sell 837900 of its accounts

Question - Westside Textiles decides to sell $837,900 of its accounts receivable to First Factors Inc. First Factors assesses a service charge of 3% of the amount of receivables sold.

Prepare the journal entry that Westside Textiles makes to record this sale.

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Accounting Basics: Westside textiles decides to sell 837900 of its accounts

Reference No:- TGS02440317

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Accounting Basics: Westside textiles decides to sell 837900 of its accounts

Reference No:- TGS02440317

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