T'Pol Furniture Factors $900,000 of Receivables to Trip Factors, Inc $\begin{array}{lrr} \text { Cash } &882,000\\ \text { Loss on Sale of Receivables } &18,000\\ \text { Accounts Receivable }&&900,000\end{array}$

T'Pol Furniture factors $900,000 of receivables to Trip Factors, Inc. Trip Factors assesses a 2% service charge on the amount of receivables sold. T'Pol Furniture factors its receivables regularly with Trip Factors. What journal entry does T'Pol make when factoring these receivables? a.
$\begin{array}{lrr} \text { Cash } &882,000\\ \text { Loss on Sale of Receivables } &18,000\\ \text { Accounts Receivable }&&900,000\end{array}$

b.
$\begin{array}{lrr} \text { Cash } &882,000\\ \text { Accounts Receivable } &&882,000\\\end{array}$

c.
$\begin{array}{lrr} \text { Cash} &900,000\\ \text { Accounts Receivable} &&882,000\\ \text { Gain on Sale of Receivables }&&18,000\end{array}$

d.
$\begin{array}{lrr} \text { Cash } &882,000\\ \text {Service Charge Expense } &18,000\\ \text { Accounts Receivable }&&900,000\end{array}$