Ques Wood Incorporated factored 150,000 of accounts receivable with Engram Factors inc, without guarantee of credit loss. Enganan charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for postible autents. Prepare the one entry for Wood Incorporated to record the factoring of the accounts receivable to Engram, Required Prepare the journal entry for Wood (seller) to record the sale