Business, 30.03.2020 19:37 Svetakotok

Laurel Company factors $300,000 of receivables to Hardy Factors. Hardy assesses a 3% fee on the amount of receivables sold. Laurel Co. factors its receivables to Hardy regularly. What journal entry does Laurel make when the factoring occurs?

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Laurel Company factors $300,000 of receivables to Hardy Factors. Hardy assesses a 3% fee on the amou...