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What entry should jervis make to record the transaction

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Question - Jervis sells $4,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 2% factoring fee. What entry should Jervis make to record the transaction?

Reference no: EM132104309

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What entry should jervis make to record the transaction : Jervis sells $4,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. What entry should Jervis make to record the transaction
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