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  3. a company factored $52,000 of its accounts receiva

A company factored $52,000 of its accounts receivable and was charged a 2% factoring fee....

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Accounting

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A company factored $52,000 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 $52,000 and a credit to Accounts Receivable of $52,000. O Debit to Cash of $52,000 and a credit to Notes Payable of $52,000. Debit to Cash of $53,040 and a credit to Accounts Receivable of $53,040. O Debit to Cash of $50,960, a debit to Factoring Fee Expense of $1,040, and a credit to Accounts Receivable of $52,000. O Debit to Cash of $52,000, a credit to Factoring Fee Expense of $1,040, and a credit to Accounts Receivable of $50,960. O

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