Homework Question 4 of 7 0.3/1 E View Policies Show Attempt History Current Attempt in Progress Presented below is information for Kingbed Company 1. 2. Beginning-of-the-year Accounts Receivable balance was $19.200. Net sales Call on account for the year were $107.700 Kingbird does not offer cash discounts Collections on accounts receivable during the year were $90.800 3 Kingbird is planning to factor some accounts receivable at the end of the year Accounts totalle 510 300 will be transferred to Credit Factors, Inc. with recourse. Credit Factors will retain % of the balances for probable adjustments and assinance charge of 5% The fair value of the recourse oblipation is 51,099 ca Your swers partially correct Prepare the journal entry to record the site of the receber o entre elect "No Entry for the countries and enter O for the amounts Credit account titles are automatically indented when the continental Danoindent mana Account Titles and Explanation Debit Credit Bu 9 Sty AD00 Question 4 of 7