Ivanhoe Company is a growing company whose ability to raise capital has not been growing as quickly as its expanding assets and sales. Ivanhoes local banker has indicated that the company cannot increase its borrowing for the foreseeable future. Ivanhoes suppliers are demanding payment for goods acquired within 30 days of the invoice date, but Ivanhoes customers are slow in paying for their purchases (6090 days). As a result, Ivanhoe has a cash flow problem. Ivanhoe needs $144,200 to cover next Fridays payroll. Its balance of outstanding accounts receivable totals $838,100. To alleviate this cash crunch, the company sells $161,000 of its receivables. Record the entry that Ivanhoe would make. (Assume a 2% service charge.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)