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estion 4 On July 1 Star Company factored $600,000 of accos receivable with the Financing on a without recourse basis Under collection handle the sales discounts, and absorb the credit losses Prett Finance and finance che of the come equal to 2% of the total receivables to cover sales discounts Required: a. Prepare the journal entry required on Prett Financing on July 1 b. Assume Star Company factors the $600,000 of accounts receivable with Prett Financing with recourse basis prepare that book on July 1 For the toolbar, press ALT+F10 (PC) or ALTFN F10 (Mac) Arial 10pt LOGO Sindows estion 4 On July 1 Star Company factored $600,000 of accos receivable with the Financing on a without recourse basis Under collection handle the sales discounts, and absorb the credit losses Prett Finance and finance che of the come equal to 2% of the total receivables to cover sales discounts Required: a. Prepare the journal entry required on Prett Financing on July 1 b. Assume Star Company factors the $600,000 of accounts receivable with Prett Financing with recourse basis prepare that book on July 1 For the toolbar, press ALT+F10 (PC) or ALTFN F10 (Mac) Arial 10pt LOGO Sindows