Help Save & Exit Mountain High Ice Cream Company transferred $72,000 of accounts receivable to the Prudential Bank. The transfer was made without recourse. Prudential remits 90% of the factored amount to Mountain High and retains 10%. When the bank collects the receivables, it will remit to Mountain High the retained amount (which Mountain estimates has a fair value of $6,200) less a 2% fee (2% of the total factored amount). Required: Prepare the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria are met. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet ht No Event Credit ences Debit 64,800 1 General Journal Cash Loss on sale of receivables Receivable from factor Accounts receivable (Prey 7 of 16 i Next > > hohe