Pina Colada Corp. sold $791,000 of accounts receivable to Kingbird, Inc. on a without recourse basis under IFRS, as the risks and rewards have been transferred to Kingbird. The transaction meets the criteria for a sale, and no asset or liability components of the receivables are retained by Pina. Kingbird assesses a finance charge of 3% of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable. Prepare journal entries for both Pina and Kingbird. (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 0 for the amounts.) Account Titles and Explanation Debit Credit Pina Kingbird