Problem 7-8 Factoring of accountseceivable; without recourse [LO7-8] Samson Wholesale Beverage Company regularly factors its accounts recevable with the Milpitas Finance Company. On April 30, 2018, the company transferred $860,000 of accounts recelvable to Milp tas. The transter was made without recourse. Milpitas remits 90% of the .actored amount and retains 10%. When Milpitas collects the recevables, t remits to Samson the retained amount less a 3% fee (3% of the total factored amount). Samson estimates the fair value of the ast 10% of its receivables to be $56,000. Required: Prepare the journal entries for Samson Wholesale Beverage tor the transfer of accounts recelvable on April 30 assuming the sale criterla are met. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the transfer of accounts receivable on April 30 Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal