Aiving to another question will save this response Question 3 handle the sales On July 1, Star Company factored S600.000 of accounts receivable with Prett Financing on a without recourse basis. Under the arrangement, Pit Financing was make the collections, discounts, and absorb the credit losses. Prett Financing ameised a finance charge of 7% of the total acounts receivable factored and retained an amount equal 2% of the tunal receivable to sales d Required: a Prepare the journal entry required on Prett Financing on July 1, b. Assume Star Company factors the $600,000 of accounts receivable with Prett Financing on a with recourse basis. Prepare the journal entry required on Star company's book Judy 1. For the toolbar, press ALT+F10 (PC) or ALT+FN+F30 (Mac) AL BIVS Paragraph v Acial 10pt SWORDS POWERED BY TINY