& paints OC 900.000 ble with Prett Financing on a without recourse basis. Under the arrangement, Prett Financing was to make the collections, handle the di Pricing aened a finance charge of of the total accounts receivable factored and retained an amount equal to 3% of the total receivables to Red er med Prett Financing on July 1. Ar Company other we receivable with Prett Financing on a with recourse basis. Prepare the journal entry required on Star company's book on July 1 PROMO BT5 A TXO Q XX, 205 * () O WORDS POWERED BY T