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Kingbird Woodcrafters sells $ 219.700 of receivables to Commercial Factors, Inc. on a with recourse basis. Commercial assesses a finance charge of 5% and retains an amount equal to 4% of accounts receivable. Kingbird estimates that the recourse liability has a fair value of $ 4.135 instead of $ 8.270 estimated earlier. Prepare the journal entry for Kingbird to record the sale. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit What are the effects of this change in the value of the recourse liability on Kingbird's financial statements? Kingbird's income will be by $ Kingbird's will be by $