Presented below is information for Bridgeport Company. 1. Beginning-of-the-year Accounts Receivable balance was $17,100. 2. Net sales (all on account) for the year were $102,800. Bridgeport does not offer cash discounts. 3. Collections on accounts receivable during the year were $90,900. Bridgeport is planning to factor some accounts receivable at the end of the year. Accounts totaling $13,300 will be transferred to Credit Factors, Inc. with recourse. Credit Factors will retain 7% of the balances for probable adjustments and assesses a finance charge of 6%. The fair value of the recourse obligation is $1,052. (a) Your answer is 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 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 Cash 11,571 Loss on Sale of Receivables 1,850 Due from Factor 931 Recourse Liability 1,052 Accounts Receivable 13,300 (b) Compute Bridgeport's accounts receivable turnover for the year, assuming the receivables are sold. (Round answers to 2 decimal places, e.g. 4.57.) Accounts receivable turnover times Days to collect accounts receivable days