Record the sale of receivable.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Record the sale by Balus Company of $131,000 in accounts receivable on May 1. Balus is charged a 3.00% factoring fee.
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Journal entry worksheet
1
Record the sale of receivable.
Note: Enter debits before credits.
Date
May 01
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
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