Exercise 7-19 Teal Corp. factors $365,000 of accounts receivable with Flint Finance Corporation on a without recourse basis on July 1, 2017. The receivables records are transferred to Flint Finance, which will receive the collections. Flint Finance assesses a finance charge of 1.50% of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable to cover sales discounts, returns, and allowances. The transaction is to be recorded as a sale. Prepare the journal entry on July 1, 2017, for Teal Corp. to record the sale of receivables without recourse. (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.) Date Account Titles and Explanaties July 1, 2017 Prepare the journal entry on July 1, 2017, for Flint Finance Corporation to record the purchase of receivables without recourse. (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 Dale Account Titles and Esplanaties uly 1, 2017 Click if you would like to Show Work for this question: Open Show Work