Which of the following statements concerning the factoring of accounts receivable is true?

Question

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All the statements provided are true regarding the factoring of accounts receivable. Factoring can indeed be costly (A), credit card companies do specialize in the collection of accounts receivable, effectively acting as a factor (B), and the typical journal entry for the sale of accounts receivable includes debiting the bank account, debiting service charge expense, and crediting accounts receivable control (C).

Which of the Following Statements Concerning the Factoring of Accounts