On June 30, 2021, Blondie Foxtures was considering alternatives to bolster its cash position Option One called for transferring $430,000 in accounts receivable to Dogwood Finance Company without recourse for a 5% fee Option Two calls for Blondie to transfer the $430,000 in receivables to Dogwood with recouse 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 $3,300 recourse liability. Under either option Dogwood will immediately remit 90% of the factored receivables to Blondie, and retain 10%. When Dogwood collects the remaining receivables remits the amountless the fee, to Blondie Blondie estimates that the fair value of the final 10% of the receivables is 526 500 noring the factoring fee) Required 1. Prepare any necessay ouma entry or entries of receivables me factored under Option One. 2. Prepare any necessary journal entry or entries of receivables are factored under Option Two Complete this question by entering your answers in the tabs below. Reed Reged 2 Prepare any necessary Journal entry or entre receivables are factored under Option One (fantry red for transaction event selection required in the first account ned Journal entry worksheet Record the entry it receivables are factored under option one Transaction General Det Cew