Grouper Incorporated factored $146,800 of accounts receivable with Monty Factors Inc. on a without-recourse basis. Monty assesses a 3% finance charge of the amount of accounts receivable and retains an amount equal to 7% of accounts receivable for possible adjustments Your answers parfactored $146,800ofaccrecevableandre tains an amount partially correct. Try again. Prepare the journal entry for Grouper Incorporated and Monty Factors to record the factoring of the accounts receivable to Monty. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit ash Interest Expense ue from Facto Monty 2. Question Attempts: 1 of 10 used