Mountain High Ice Cream Company transferred $70,000 of accounts receivable to the Prudential Bank. The transfer was made with secourse. Prudential remits 90% of the factored amount to Mountain High and retains 10% to cover sales returns and allowances. When the bank collects the receivables, it will remit to Mountain High the retained amount (which Mountain estimates has a fair value of $6,000). Mountain High anticipates a $4.000 recourse obligation. The bank charges o 2% fee 12% of $70,000), and requires that amount to be paid at the start of the factoring arrangement. Required: Prepare the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria are met. (if no entry is required for a transaction/event, select "No Journal entry required" in the first account fleld.) View transaction list Journal entry worksheet Record the transfer of accounts receivable. Note: Criter debits before credits Even General Journal Debi Creo