What journal entry to record the factoring of the receivable

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Question 1: Trevino Company has decided to factor its accounts receivable in order to get the immediate receipt of cash. The journal entry to record the factoring of the receivables would include:

Select one:

a. a debit to Cash, debit to Financing Expense and credit to Accounts Receivable

b. a debit to Accounts Receivable and a credit to Cash

c. a debit to Cash, credit to Interest Revenue and credit to Accounts Receivable

d. a debit to Cash and a credit to Accounts Receivable

Reference no: EM132570208

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