Concord Corn factors 5440,000 of accounts receivable with Marigold Finance Corporation on a without recourse basis on July 1, 20:20. The receivables records are transferred to Marigold Finance, which will receive the collections. Maripold Finance assesses france charge of 1.90% of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable to cover ales discounts returns, and allowances. The transaction is to be recorded as a sale Prepare the journal entry on July 1, 2020 for Concord Corp, to record the sale of receivables without recourse. If no entry is mquired, select "No Entry" for the account titles and enter for the amounts Credit account titles are automatically indented when the amount is entered. Do not Indent manually) Date Account Titles and Explanation Debit Credit July 1. 2020 Prepare the journal entry on July 1, 2020, for Marigold Finance Corporation to record the purchase of receivables without recourse of no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually Date Account Titles and Explanation Debit Credit July 1. 2020