The journal entry that Oliver make when factoring these receivables is:
Debit Cash $784,000
Debit Service Charge Expense $16,000
Credit Accounts receivable $800,000
Oliver furniture journal entry
Debit Cash $784,000
[(100%-2%)×$800,000]
Debit Service Charge Expense $16,000
(2%×$800,000)
Credit Accounts receivable $800,000
(To record account receivables)
Inconclusion the journal entry that Oliver make when factoring these receivables is: Debit Cash $784,000; Debit Service Charge Expense $16,000; Credit Accounts receivable $800,000.
Learn more about account receivables here:brainly.com/question/24848903
A vector with magnitude and direction
Answer:
When non metals such as nitrogen and phosphorus are solids, they tend to be very dull and brittle which is due to the tendency of elements to revert to their original form.
