Marigold Inc. factors receivables with a carrying amount of $202,200 to Joffrey Company for $177,700 on a with recourse basis. The recourse provision has a fair value of $1,850. This transaction should be recorded as a sale. Prepare the appropriate journal entry to record this transaction on the books of Marigold Inc. (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.)

Marigold Inc. factors receivables with a carrying amount of $202,200 to Joffrey Company for $177,700 on a with recourse basis. The recourse provision has a fair value of $1,850. This transaction should be recorded as a sale. Prepare the appropriate journal entry to record this transaction on the books of Marigold Inc. (If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit