Cheyenne Incorporated factored $160,400 of accounts receivable with Engram Factors Inc. on a with recourse basis. Engram assesses a 3% finance charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for possible adjustments. Prepare the journal entry for Cheyenne to record the sale, assuming that the recourse liability has a fair value of $8,490