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%
