Exercise 7-17 Metlock Inc. factors receivables with a carrying amount of $240,500 to Joffrey Company for $161,800 on a with recourse basis. should be recorded as a Prepare the appropriate journal entry to record this transaction on the books of Metlock Inc. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit