Blue Spruce Corp. sold $788,000 of accounts receivable to Larkspur, Inc. on a without recourse basis under IFRS, as the risks and rewards have been transferred to Larkspur. The transaction meets the criteria for a sale, and no asset or liability components of the receivables are retained by Blue. Larkspur assesses a finance charge of 4% of the amount of accounts receivable and retains an amount equal to 5% of accounts receivable. Prepare journal entries for both Blue and Larkspur. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Blue Larkspur