AP Distributors is a company whose ability to raise capital has not been growing quick enough. AP needs $$160,000$ to cover next Friday$$s payroll. Its balance of outstanding accounts receivable totals $$800,000.$ To alleviate this cash crunch, AP sells $$165,000$ of its receivables. Record the entry that AP would make. $($Assume a $2\%$ factoring expense.$)$

$($b$)$