Exercise 7-15 Selling and pledging accounts receivable LO C3 On June 30, Petrov Co. has $134,400 of accounts recelvable. July 4 Sold $8,660 of merchandise (that had cost $5,542) to customers on credit. 9 sold $18,816 of accounts receivable to Main Bank. Main charges a 6% factoring fee 17 Received $4,763 cash from customers in payment on their accounts 27 Borrowed $10,752 cash from Main Bank, pledging $13,978 of accounts receivable as security for the loan. Prepare Journal entries to record the above selected July transactions(The company usestne perpetual inventory system! (if no entry Is required for e transactlon event, select "No Journal entry required" In the first account field.) View transaction list Journal entry worksheet Sold $8,660 of merchandise to customers on credit. Note: Enter debits before credits. Date General Journal Debit Credit July 04 Record entry Clear entry View general journal