Flounder Corp. sold $794,000 of accounts receivable to Shamrock, Inc. on a without recourse basis under IFRS, as the risks and rewards have been transferred to Shamrock. The transaction meets the criteria for a sale, and no asset or liability components of the receivables are retained by Flounder. Shamrock assesses a finance charge of 3% of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable. Prepare journal entries for both Flounder and Shamrock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit Credit Account Titles and Explanation Flounder Cash 23820 Due from Factor 31760 Gain on Disposal of Equipment 55580 794000 Accounts Receivable Shamrock Accounts Receivable 794000 Due from Factor 23820 Finance Revenue 31760 Cash 55580