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  3. a company factored $49,000 of its accounts receiva

A company factored $49,000 of its accounts receivable and was charged...

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Accounting

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A company factored $49,000 of its accounts receivable and was charged a 2% factoring fee. The Journal entry to record this transaction would include a: Multiple Choice Debit to Cash of $49,000 and a credit to Notes Payable of $49,000 Debit to Clash of $49.980 and a credit to Accounts Receivable of $49.980, Debit to Cash of $48,020, a debit to Factoring Fee Expense of $980, and a credit to Accounts Receivable af $49,000 O Debit to Cash of $49.000 and a credit to Accounts Receivable of $49.000 Debit to Cosh of $49,000, a credit to Factoring Fee Expense of $980, and a credit to Accounts Receivable of $48,020

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