On June 30, 2018, Blondie Fixtures was considering alternatives to bolster its cash position. . Option One called for transferring $400,000 in accounts receivable to Dogwood Finance Company without recourse for a 5% fee. Option Two calls for Blondie to transfer the $400,000 in receivables to Dogwood with recourse. Dogwood's charges a 4% fee for receivables factored with recourse. Option Two meets the conditions to be considered a sale, but Blondie estimates a $3,000 recourse liability. Under either option, Dogwood will immediately remit 90% of the factored receivables to Blondie, and thus retain 10%. When Dogwood collects the remaining receivables, it remits the amount, less the fee, to Blondie. Blondie estimates that the fair value of the final 10% of the receivables is $25,000 (less the appropriate factoring fee under either option). Using the above information, prepare the necessary journal entry to record the transfer if receivables are factored under Option One. 12pt Paragraph BI V ART? O words : Using the above information, prepare the necessary journal entry to record the transfer if receivables are factored under Option Two. 12pt Paragraph B I VART? O words ***