Question 1 of 11 View Policies Current Attempt in Progress -15 Grouper Incorporated factored $164,900 of accounts receivable with Monty Factors Inc. on a without-recourse basis. Monty assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for possible adjustments. Prepare the journal entry for Grouper Incorporated and Monty Factors to record the factoring of the accounts receivable to Monty. (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.) No. Account Titles and Explanation Debit Credit Grouper 1. 2. Monty. eTextbook and Media List of Accounts