Mountain High Ice Cream Company transferred $62,000 of accounts receivable to the Prudential Bank. The transfer 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 $5,200) less a 2 % fee (2% of the total factored amount). Required: Prepare the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria are met. (If required for a transaction/event, select "No journal entry required" in the first account field.) no entry is View transaction list Journal entry worksheet 1 Record the transfer of accounts receivable. Note: Enter debits before credits Credit Debit General Journal Event View general journal Clear entry Record entry