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Indigo Incorporated factored $163,900 of accounts receivable with Sweet Factors Inc. on a without-recourse basis. Sweet assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for possible adjustments. Prepare the journal entry for Indigo Incorporated and Sweet Factors to record the factoring of the accounts receivable to Sweet. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit Indigo Sweet e Textbook and Media List of Accounts Attempts: 0 of 3 used Save for Later Submit Answer
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