EXHIBIT 7-6: FACTORING OF ACCOUNTS RECEIVABLE Green Eyeshade, a CPA firm, transfers receivables with a face value of $30,000 to Mix & Max Finance. Estimated uncollectible accounts of $2,809 have been recognized by Green Eyeshade. The factoring fee charged by kix and Max is 18 percent of the face value. Record the entry by Green Eyeshade under the assumption that the transfer is without recourse. Now assume that the receivables are sold with recourse. The fee charged is 18%, not 18% as before (a lower fee is charged because the transfer with recourse is less risky). In addition, Green Eyeshade agrees to cover uncollectible receivables up to a fair value of $3,e00. Prepare the appropriate entry assuming that the transfer still meets the criteria for a sale