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Accounts receivable valued

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Accounts receivable valued at $40,000 are sold for $38,000. How is the difference of $2,000 treated in the entry to record the sale?

A. As a debit to Interest Expense

B. As a debit to Factoring Fee Expense

C. As a credit to Interest Earned

D. As a credit to Bad Debts ExpenseE. As a debit to Allowance for Doubtful Accounts

Reference no: EM13915691

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