Cash and Receivables CNN Group factors $200,000 of accounts receivable with CNBC Finance Corporation, without guaranteeing any payment for possible credit losses (without recourse) on October 1, 2020. The receivables records are transferred to CNBC Finance, which will receive the collections. CNBC Finance assesses a finance charge of 1% of the amount of accounts receivable and retains an amount equal to 2% of accounts receivable to cover sales discounts, returns, and allowances. The transaction is to be recorded as a sale. Prepare the journal entry on October 1, 2020, for CNN Group to record the sale of receivables without recourse