On August 25, Turner Company factors $200,000 of its accounts receivable to Mitchell Company. Mitchell Company assesses a charge of 13% of receivables sold. The transfer of receivables from Turner Company to Mitchell Company is accounted for as a sale. Required: Journalize Turner Company's transactions to record the factoring of receivables. Date Account Title Debit Credit Aug. 15 Cash Accounts Receivable Loss on Sale of Receivable