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On January 1,20x5, Cremin Co factored $180,000 of its accounts receivable. The factor charged a fee of 6% to accept the receivables. Under the terms of the agreement, the factor retained an additional 9% as a security for any defaults that may atise. Assume that this transaction meets all three criteria of FASB ASC Topic B60. Requifed: a. Propare the journal entry to record the transaction assuming that the factoring agreement wan without recourse a. Prepare the journal entry to record the transaction assuming that the factoring agreement was without recourse. b. Prepare the journal entry or entries to record the transaction assuming that the factoring agreement was with recourse. Cremin Co estimates the recourse obligation 2t$1,500. C. Prepare the journal entry to record this agreement assuming that Cremin Co retained the right to repurchase all of the receivables at any time before the recelvables are due