00:56:56 Question 2 / 18 On December 1, 2019, Rayan Company sells (factors) $200,000 of receivables to Nation Factors, Inc. Nation assesses a service charge of 7% of the amount of receivables sold. The journal entry to record the sale by Rayan will include: 1. a debit of $14,000 to Service Charge Expense. 2. a debit of $200,000 to Accounts Receivable. 3. a credit of $214,000 to Cash. 4. a debit of $214,000 to Cash Next