(a). On March 3, Kitselman Appliances sells $624,000 of its receivables to Ervay Factors Inc. Ervay Factors assesses a finance charge of 1% of the amount of receivables sold. Prepare the entry on Kitselman Appliances' books to record the sale of the receivables.

(b). On May 10, Fillmore Company sold merchandise for $21,400 and accepted the customer's America Bank MasterCard. America Bank charges a 4% service charge for credit card sales. Prepare the entry on Fillmore Company's books to record the sale of merchandise.

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Date Account Titles Debit Credit Mar. 3 Date Account Title Debit Credit May 10