Annie's Attic sold $80,000 in accounts receivable to First Bank and incurred a 2% factor fee. Prepare the journal entry to record the sale.

Name: Annie's Attic sold $80,000 in accounts receivable to First Bank and incurred a 2% factor fee. Prepare the journal entry to record the sale.
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The Answer of Annie's Attic sold $80,000 in accounts receivable to First Bank and incurred a 2% factor fee. Prepare the journal entry to record the sale.

Annie's Attic Sold $80,000 in Accounts Receivable to First Bank