Novak Corp. sold $756,000 of accounts receivable to Windsor, Inc. on a without recourse basis under IFRS, as the risks and rewards have been transferred to Windsor. The transaction meets the criteria for a sale, and no asset or liability components of the receivables are retained by Novak. Windsor assesses a finance charge of 5% of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable. Prepare journal entries for both Novak and Windsor. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
Novak
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
Windsor
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount