On April $1,$ DOS Company sold $$10,000$ accounts receivable to PS$2$ Finance Company to obtain immediate cash. The related allowance for doubtful accounts was $$400.$ The financial agreement specified a price of $$8,000$ on a withoutrecourse basis.

Required

Prepare the journal entry for DOS Company to sell the accounts receivable.

Note: If a line in the journal entry isn't required for the transaction, select $"$N$/$A$"$ as the account name and leave the Dr$.$ and Cr$.$ answers blank $($zero$).$

$\backslash$table$[[$Account Name,Dr$.,$Cr$.],[$Cash$,8,000,0],[$Loss on Sale of Receivables,$1,600,0],[$Accounts Receivable,$0,10,000$