Question 12 of 13 Updates Ava Do you want to updates now 0 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. Crane Incorporated factored $163,900 of accounts receivable with Cheyenne Factors Inc. on a without-recourse basis. Cheyenne 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 Crane Incorporated and Cheyenne Factors to record the factoring of the accounts receivable to Cheyenne. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Crane Debit Credit 1. Cash 147510 Due from Factor 11473 Loss on Sale of Receivables 4917 Accounts Receivable Cheyenne 163900 2 Accounts Receivable 163700 Due to Customer 11473 4917 Cash 147510 be