fast urgent

On July 1 Star Company factored $900.000 of secounts receivable with Prett Financing on a without recourse basis. Under the trement Prett wel to make the collection handle the sales discounts, and absorb the credet losses Prett Financieel a finance charge of 5% of the total accounts receivable factored and med of the total receivables to cover sales discounts Required: Perpare the journal entry required on Prett Financing on July 1 Assume Star Company factors the $900,000 of accounts receivable with Prett Financing on a with recourse basis. Prepare the journal entry requedos Star company's book on July 1