Presented below is information for Ayayai Company. 1. Beginning-of-the-year Accounts Receivable balance was $19,300. 2. Net sales (all on account) for the year were $107,800. Ayayai does not offer cash discounts. 3. Collections on accounts receivable during the year were $87,200. Ayayai is planning to factor some accounts receivable at the end of the year. Accounts totaling $11,600 will be transferred to Credit Factors, Inc. with recourse. Credit Factors will retain 6% of the balances for probable adjustments and assesses a finance charge of 5%. The fair value of the recourse obligation is $1,070. Your answer is partially correct. Prepare the journal entry to record the sale of the receivables. (If no entry is required, select "No Entry" for the account titles and enter ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Compute Ayayai's accounts receivable turnover for the year, assuming the receivables are sold. (Round answers to 2 decimal places, eg. 4.57.) Accounts receivable turnover times Days to collect accounts receivable days eTextbook and Media