E8-7 On March 3, Plume Appliances sells $710,000 of its receivables to Western Factors Inc. Western Factors Inc. assesses a service charge of 4% of the amount of receivables sold. Pr re Instructions Prepare the entry on Plume Appliances' books to record the sale of the receivables. d the
E8-7 On March 3, Plume Appliances sells $710,000 of its receivables to Western Factors Inc. Western Factors Inc. assesses a service charge of 4% of the amount of receivables sold. Pr re Instructions Prepare the entry on Plume Appliances' books to record the sale of the receivables. d the
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 14RE: On June 1, Phillips Corporation sold, with recourse, a note receivable from a customer to a bank....
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![E8-7 On March 3, Plume Appliances sells $710,000 of its receivables to Western Factors
Inc. Western Factors Inc. assesses a service charge of 4% of the amount of receivables sold.
Pr
re
Instructions
Prepare the entry on Plume Appliances' books to record the sale of the receivables.
d
the](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3cb9d9f0-0409-4374-a695-5d8a02c3738b%2F4a7bf0f4-c960-4598-a536-c0a83882d79d%2Flmrkwbu.jpeg&w=3840&q=75)
Transcribed Image Text:E8-7 On March 3, Plume Appliances sells $710,000 of its receivables to Western Factors
Inc. Western Factors Inc. assesses a service charge of 4% of the amount of receivables sold.
Pr
re
Instructions
Prepare the entry on Plume Appliances' books to record the sale of the receivables.
d
the
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