Current Attempt in Progress Ivanhoe Woodcrafters selis $246,300 of receivables to Commercial Factors, lne on a with recourse basic. Commerclay aseessera finance charge of 5% and retains an amount equal to 4% of accounts receivable. Tvanhoe estiritates that the reccurne iubasity har a fair value of $4,290 intead of $8,580 estimated earlier. Prepare the journal entry for lianhoe to recond the sale, lif no entry is required, select "No. Entrr" for the occount titles and exler 0 for the amounts. Credit account titles afe automatically indented when the amount is entered. Do not indent mantially. What are the effects of this change in the value of the recourse liability on ivanhoe' funancialstatemicnts? Ivanhoe's income will be