On March 3, Beachy Appliances sells $710,000 of its receivables to National Factors Inc. National Factors Inc.

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On March 3, Beachy Appliances sells $710,000 of its receivables to National Factors Inc. National Factors Inc. assesses a service charge of 4% of the amount of receivables sold.

Instructions
Prepare the entry on Beachy Appliances’ books to record the sale of the receivables.

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Related Book For  book-img-for-question

Accounting Tools for Business Decision Making

ISBN: 978-1118128169

5th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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