Business, 31.03.2020 01:36 eatheng4441

Sheffield Furniture factors $914000 of receivables to Ivanhoe, Inc. Ivanhoe assesses a 3% service charge on the amount of receivables sold. Sheffield Furniture factors its receivables regularly with Ivanhoe Factors. What journal entry does Sheffield make when factoring these receivables?

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Sheffield Furniture factors $914000 of receivables to Ivanhoe, Inc. Ivanhoe assesses a 3% service ch...

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