Exercise 7-17 Sage Inc. factors receivables with a carrying amount of $248,700 to Joffrey Company for $166,700 on a with recourse basis. The recourse provision has a fair value of $2,940. This transaction should be recorded as a sale. Prepare the appropriate journal entry to record this transaction on the books of Sage Inc. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work