Presented below is information for Headland Company. 1. Beginning-of-the-year Accounts Receivable balance was $18,300. 2. Net sales (all on account) for the year were $106,200 Headland does not offer cash discounts. 3. Collections on accounts receivable during the year were $82,900. Headland is planning to factor some accounts receivable at the end of the year. Accounts totaling $12,300 will be transferred to Credit Factors, Inc. with recourse. Credit Factors will retain 5% of the balances for probable adjustments and assesses a finance charge of 4%. The fair value of the recourse obligatign is $1.052. (a) 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.)