Question: DO NOT copy and paste from other problems on Chegg as many of them are incorrect. Please make your best effort, and if you don't

DO NOT copy and paste from other problems on Chegg as many of them are incorrect. Please make your best effort, and if you don't know the subject, investigate

allowances. The transaction is to be recorded as a sale. Instructions a. Prepare the journal entry on July 1, 2025, for JFK Corp. to record the sale of receivables without recourse. b. Prepare the journal entry on July 1, 2025, for LBJ Finance Corporation to record the purchase of receivables without recourse

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