Metlock, Inc. is a growing company whose ability to raise capital has not been growing as quickly as its expanding assets and sales. Metlock, Inc.'s local banker has indicated that the company cannot increase its borrowing for the foreseeable future. Metlock, Inc's suppliers are demanding payment for goods acquired within 30 days of the invoice date, but Metlock, Inc's customers are slow in paying for their purchases (60-90 days). As a result, Metlock, Inc. has a cash flow problem. Metlock, Inc. needs $158,500 to cover next Friday's payroll. Its balance of outstanding accounts receivable totals $809,500. To alleviate this cash crunch, the company sells $173,900 of its receivables. Record the entry that Metlock, Inc. would make. (Assume a 2% service charge.) (Credit account titles are automatically indented when amount i int is entered. Do not indent manually.) Account Titles and Explanation Cash Debit 169,750 Credit Service Charge Expense Accounts Receivable. 5,250 175,000