Check my work 3 Mountain High Ice Cream Company transferred $77,000 of accounts receivable to the Prudential Bank. The transfer was made with recourse. Prudential remits 90% of the factored amount to Mountain High and retains 10% to cover sales returns and allowances. When the bank collects the receivables, it will remit to Mountain High the retained amount (which Mountain estimates has a fair value of $6,700). Mountain High anticipates a $4.700 recourse obligation. The bank charges a 3% fee (3% of $77000), and requires that amount to be paid at the start of the factoring arrangement. 10 points Required: Prepare the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria are met. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) eBook Hint View transaction list Print References Journal entry worksheet Record the transfer of accounts recelvable. Note: Enter debits before credits. Event General Journal Debit Credit