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Business, 07.04.2020 16:24 venny23

Blossom Furniture factors $710000 of receivables to Blue Spruce Factors, Inc. Blue Spruce Factors assesses a 2% service charge on the amount of receivables sold. Blossom Furniture factors its receivables regularly with Blue Spruce Factors. What journal entry does Blossom make when factoring these receivables?

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Blossom Furniture factors $710000 of receivables to Blue Spruce Factors, Inc. Blue Spruce Factors as...
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