Mickey Company has the following accounts in its general ledger at July 31: Accounts Receivable, $40,000; and Allowance for Doubtful Accounts $2,500. During August, the following transactions occurred:

Aug. 15 Sold $20,000 of accounts receivable to Good Factors, Inc. Who assesses a 3% finance charge.

Aug. 25 Made sales of $900 on VISA credit cards. The credit card service charge is 2%

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