Which of the following would be correct if a company factored $2,500,000 of receivables with a 2 percent fee?
A) $2,450,000 credit to cash
B) $50,000 debit to factoring fee expense
C) $2,500,000 debit to accounts receivable.
D) $50,000 debit to factoring fee receivable.
Correct Answer:
Verified
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