Stanberry Company sold $ 500,000 of net accounts receivable to Cork Company for $ 450,000. The receivables were sold outright on a without recourse basis, and Stanberry Company retained no control over the receivables.
The journal entries to record the sale would be which of the following?

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a. Cash 500,000 Accounts Receivable inet 500,000 450,000 50,000 b Cash Loss on Sale of Accounts Receivable Accounts receivable inet 500,000 450,000 50,000 c. Cash Unrealized Loss on Sale of Accounts Recevable Accounts Receivable inet 500,000 d. Cash 450,000 50,000 Due from Cork Company Accounts Receivable inet 500,000