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Current Artempt in Progress Windsor Corporation factors $250,500 of accounts receivable with Kathleen Battle Financine Inc, on a with recourse basis. Kathleen Battle Financing will

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Current Artempt in Progress Windsor Corporation factors $250,500 of accounts receivable with Kathleen Battle Financine Inc, on a with recourse basis. Kathleen Battle Financing will collect the recelvables, 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 accouints recelvable 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 fournal entry on August 15, 2020, for Windsor to record the sale of receivables, assuming the recourse obligation has a fair value of $4,890, (If no entry is required, select 'No Entry' for the occount titles and enter 0 for the omounts. Credit account titles are automatically iadented when the amount is entered. Do not indent manually.)

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