v

Show Attempt History Current Attempt in Progress Presented below in information for Sorota Company 1 Beginning of the year Accounts Receivable balance was $21.400 2. Net sales tall on Medunt for the year were $100.000. Sarmots does not atter can counts Collections on accounts receivable during the year were $84.800 Sarasota is planning to actor some accounts receivable at the end of the year. Accounts ting $12.800 will be transferred to Credit Factors, Inc. with recourse. Credit Factors will retains of the balances for probable adjustments and safinance charge of The fair value of the recourse obligation is $1,101 Youwen correct Prepare the journal entry to record the sale of the recentes entre Monty Rothwende of the amount Credit unter andere when the med. Derefinden Account Tires and Explanation Debilt Credit 111 Your answer is correct. Prepare the Journal entry to record the sale of the receivables. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not Indent manual Account Titles and Explanation Debit Credit Cash 11392 Lowon Sale of Receivables 1741 Dem F 766 Recounty 1101 12000 eTextbook and Media List of Accounts Attempts: 3 of 4 used List of Accounts Attempts: 3 of 4 used ib Compute Sarasota's accounts receivable turnover for the year, assuming the receivables are solt. (Round answers to 2 decimal ploces, 68. 4.573 times Accounts receivable turnover Days to collect accounts receivable day eTextbook and Media List of Accounts Attempts:0 of 4 used Similar