On August 8, 2021, Edmonton Corporation factored receivables with a carrying amount of $466,400 with Calgary Inc. Calgary Inc. assessed a finance charge of 4% of the receivables and retained 3% of the receivables. Edmonton Corporation follows ASPE, and has a year end of November 30. Required: 1. Prepare the journal entry required on the books of Edmonton Corporation on August 8, 2021 for the disposal of the receivables. Assume that the receivables are factored on a without recourse basis. (2 marks) 2. Prepare the journal entry required on the books of Edmonton Corporation on August 8, 2021 for the disposal of the receivables. Assume that the receivables are factored on a with recourse basis, and that the recourse obligation has a fair value of $5,521