Pharoah Company sells $ 615,000 of receivables with a fair value of $ 626,900 to Pharoah Trust in a securitization transaction that meets the criteria for a sale Pharoah Company receives full fair value for the receivables and agrees to continue to service them. estimating that the fair value of this service liability component is $ 27.000. Prepare the journal entry for Pharoah Company to record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Cash 626.900 Loss on Disposal of Recelvables Servicing Liability 27.000 Accounts Recevable 615.000