Mountain High Ice Cream Company transferred $60,000 of accounts receivable to the Prudential Bank. The trans- fer was made without recourse. Prudential remits 90% of the factored amount to Mountain High and retains 10% When the bank collects the receivables, it will remit to Mountain High the retained amount (which Mountain estimates has a fair value of $5,000) less a 2% fee (2 % of the total factored amount). se Required: Prepare the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria are met