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Ivanhoe Ltd. factors receivables with a carrying amount of 204,000 to Warren Company for 163,200 and guarantees all credit losses. Prepare the appropriate journal entry

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Ivanhoe Ltd. factors receivables with a carrying amount of 204,000 to Warren Company for 163,200 and guarantees all credit losses. Prepare the appropriate journal entry to record this transaction on the books of Ivanhoe Ltd. (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.)

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