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Current Attempt in Progress Blossom Incorporated factored $154,700 of accounts recelvable with Engram Factors Inc. on a with recourse basis. Engram assesse a 3% finance

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Current Attempt in Progress Blossom Incorporated factored $154,700 of accounts recelvable with Engram Factors Inc. on a with recourse basis. Engram assesse a 3% finance charge of the amount of accounts receivable and retains an amount equal to 5% of accounts receivable for possible adjustments. Prepare the journal entry for Blossom to record the sale, assuming that the recourse liability has a fair value of 56,720 . If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Credit occount titles are automatically indented when the omour. is entered. Do not indent manually. List all debit entries before credit entries)

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