Question: b- Presented below are two independent cases. (a) On May 10, Manama Incorporation sold $900,000 of its receivables to Hamala Factors Inc. Hamala Factors

b- Presented below are two independent cases. (a) On May 10, Manama

b- Presented below are two independent cases. (a) On May 10, Manama Incorporation sold $900,000 of its receivables to Hamala Factors Inc. Hamala Factors assesses a finance charge of 2% of the amount of receivables sold. Prepare the entry on Manamas' books to record the sale of the receivables. (a) On June 10, Cairo Company sold merchandise for $10,000 and accepted the customer's BBK Bank MasterCard. BBK Bank charges a 3% service charge for credit card sales. Prepare the entry on Cairo Company's books to record the sale of merchandise. (b) What do some companies sell their receivables? (c) Why do most companies accept credit cards?

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