Dainty Company Requirement: Prepare Journal Entries Debit Credit
Dainty Company Requirement: Prepare Journal Entries Debit Credit
1 Cash 4,500,000
Allowance for doubtful accounts 200,000
Receivable from factor 600,000
Loss on factoring 700,000
Accounts receivable 6,000,000
2 Cash 600,000
Receivable from factor 600,000