Presented below is information for Blossom Company. 1. 2. Beginning-of-the-year Accounts Receivable balance was $18,800. Net sales (all on account) for the year were $107.500. Blossom does not offer cash discounts. Collections on accounts receivable during the year were $83,900, 3. Blossom is planning to factor some accounts receivable at the end of the year. Accounts totaling $13,200 will be transferred to Credit Factors, Inc. with recourse. Credit Factors will retain 696 of the balances for probable adjustments and assesses a finance charge of 5%. The fair value of the recourse obligation is $1.193. 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 O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit