During 2023, Flint had the following transactions: 1. On June 1,2023 , sales of $70,000 to a major customer were settled, with Flint accepting an $70,000, one-year note bearing 6% interest that is payable at maturity. The $70,000 is not included in the total credit sales amount above. 2. Flint factors some accounts receivable at the end of the year. Accounts totalling $50,000 are transferred to Tamarisk Inc., with recourse. Tamarisk retains 5% of the balance for possible returns and will receive the collections directly from Flint's customers. Flint is assessed a finance charge of 6% on this transfer. The fair value of the recourse obligation is $6,900. 3. Flint wrote off $3,400 of accounts receivable during 2023. 4. Based on the latest available information, the 2023 allowance for doubtful accounts should have a balance of $11,500 at December 31, 2023. Additional information: 4. Based on the latest available information, the 2023 allowance for doubtful accounts should have a balance of $11,500 at December 31,2023 . Additional information: postdated cheques from customers of $2,500. Flint is a private company that follows ASPE. (a) Your answer is correct. for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Your answer is correct. Prepare the journal entry for the factoring of the accounts receivable to Tamarisk Inc. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) eTextbook and Media Due from Factor Total Current Assets eTextbook and Media List of Accounts Attempts: 1 of 5 used