Question: Moving to another question will save this response Question 1 On July 1, Star Company factorud 5900,000 of accounts receivable with Free Pancing on a

Moving to another question will save this response Question 1 On July 1, Star Company factorud 5900,000 of accounts receivable with Free Pancing on a without recourse basis. Under the rangement Financing to make the collections, handle the sales discounts, and about the credit doen, Prett Financing wined a finance charge of 5% of the fetal sccounts receivable factured and retained in mountul 10 3% of the total receivables to cover les discount Required: Prepare the journal entry required on Prett Financing on July 1 b. Assume Star Company factors the $900,000 of accounts receivable with Prett Financing on with recourse basis. Prepare the mal entry required on Stur company's book on July 1 For the toolbar, press ALTF10 Por ALT INF10 (Mac) I Paragraph Aral 10pt I. XOQ O WONOS POWERED BY TINY P Question of 12

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