Cheyenne Corporation factors $267,700 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathleen Battle Financing will collect the receivables. The receivables records are transferred to Kathleen Battle Financing on August 15, 2020. Kathleen Battle Financing assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments. (b) Assume that the conditions are met for a transfer of receivables with recourse to be accounted for as a sale. Prepare the journal entry on August 15, 2020, for Cheyenne to record the sale of receivables, assuming the recourse obligation has a fair value of $4,040. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) e Account Titles and Explanation Cash Due from Factor Loss on Sale of Receivables Recourse Liability Accounts Receivable Debit 251,638 10,708 9,394 Credit 4,040 267,700