Presented below is information for Swifty Company. 1. Beginning-of-the-year Accounts Receivable balance was $21,400. 2. Net sales (all on account) for the year were $103.800. Swifty does not offer cash discounts, 3. Collections on accounts receivable during the year were $84,800. Swifty is planning to factor some accounts receivable at the end of the year. Accounts totaling $12,800 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 $1,101. 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