On march 3, kitselman appliances sells $781,500 of its receivables to ervay factors inc. ervay factors assesses a finance charge of 1% of the amount of receivables sold. prepare the entry on kitselman appliances’ books to record the sale of the receivables.

(b) on may 10, fillmore company sold merchandise for $4,600 and accepted the customer’s america bank mastercard. america bank charges a 4% service charge for credit card sales. prepare the entry on fillmore company’s books to record the sale of merchandise

The Journal entries are as follows:

(a) On March 3,

Cash A/c                                                              Dr. $773,685

Service Charge Expense (1% × $781,500) A/c  Dr. $7,815

To Account Receivable                                                              $781,500

(To record the sale of the receivables.)

(b) On May 10,

Cash A/c                                                              Dr. $4,416

Service Charge Expense (4% × $4,600) A/c     Dr. $184

To Sales Revenue                                                                     $4,600

(To record the sale of the merchandise)

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.