Chassman Corporation factors $600,000 of accounts receivable with Liquidity Financing Inc. on a with recourse basis. Liquidity Financing will collect the receivables and assesses a finance charge of 2.5% of the amount of accounts receivable and also withholds on amount equal to 5.25% of accounts receivable to cover probable adjustments. The recourse obligation is estimated to $9,000. Chessman prepares financial statements using IFRS and the transfer of accounts receivable qualifies for a sale. Required- Prepare the journal entry in the books of Chassman Corp