On June 4, Maltex sold $108,000 of its accounts receivable to a collection agency, which charges a

Question:

On June 4, Maltex sold $108,000 of its to a collection agency, which charges a 2.5% factoring fee. Record the entry on June 4. Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...