m/edug Kieso, Intermediate Accounting, 16e Exercise 721 Presented below is information for Nash Company t. Beginning-of-the-year Accounts Receivable balance was SIR-300. 2. Net sales (all on account) for the year were $306,200, Nash does not offer cash discounts a. Collections on aocounts receivable during the year were $82,900. Nash is planning to factor serme accounts receivable at the end of the year. Accounts totaling $12,300 wil betransferred ta oedt Factors, Inc. with recaurse. Crudt Fatin silntin 5% ofthe b womfor prubbe abt i hrd"in" afo value of the recourse obligation is $1,052 "drgeof 4Met Your answer is partially correct. Try asan. Prepare the journal entry to record the sale of the recelvables. (f no entry is oqwired, select "No Eatry" for the accnt oiles and enter a fer the amsunts Crncae manually.) Credit Aa Rights Reserved. A Divuon of hahamAan m/edug Kieso, Intermediate Accounting, 16e Exercise 721 Presented below is information for Nash Company t. Beginning-of-the-year Accounts Receivable balance was SIR-300. 2. Net sales (all on account) for the year were $306,200, Nash does not offer cash discounts a. Collections on aocounts receivable during the year were $82,900. Nash is planning to factor serme accounts receivable at the end of the year. Accounts totaling $12,300 wil betransferred ta oedt Factors, Inc. with recaurse. Crudt Fatin silntin 5% ofthe b womfor prubbe abt i hrd"in" afo value of the recourse obligation is $1,052 "drgeof 4Met Your answer is partially correct. Try asan. Prepare the journal entry to record the sale of the recelvables. (f no entry is oqwired, select "No Eatry" for the accnt oiles and enter a fer the amsunts Crncae manually.) Credit Aa Rights Reserved. A Divuon of hahamAan