Cappa Apparel follows ASPE and factors $355,000 of its accounts receivable with recourse to DLT Financing, Inc on March 6, 2020. The receivables records are transferred to DLT Financing, which takes over responsibility for the collections. DLT Financing assesses a finance charge of 4% of the amounts of the accounts receivable and withholds an initial amount of $12,500 for returns and allowance. In addition, DLT Financing includes in the agreement a with-recourse provision with an estimated value of $9,900. The transaction is to be recorded as a sale. Required a) Prepare the journal entry on March 6, 2020, for Cappa Apparel to record the factoring of the receivables if the transaction is to be recorded as a sale assuming Cappa Apparel follows IFRS