Current Attempt in Progress Pronghorn Corp. decides to factor $115,000 of accounts receivable with Culver...
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Accounting
Current Attempt in Progress Pronghorn Corp. decides to factor $115,000 of accounts receivable with Culver Inc. on a without recourse basis. Culver Inc. charges a 6% finance charge to Pronghorn Corp. Record the journal entry to be recorded by Pronghorn Corp. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
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