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Prepare the necessary journal entry for the following transaction. Linton Company sold $270000 of its accounts receivables to a factor. The factor charges a 3% fee.
Fixative
A fixative is a chemical solution used to preserve biological tissues, preventing decay and maintaining the structure for microscopic examination or medical procedures.
Specimen
A sample of something, such as tissue, blood, or urine, that is taken for medical examination or analysis.
Cutting
The act or process of making an incision or separation with a sharp instrument.
Scissor Motion
A movement involving two parts moving past each other in opposite directions, similar to the action of a pair of scissors.
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