Question 2 20 pts On May 1, 2020, Rowdy Raiders factored accounts receivable of $400,000 to First Factoring Financial. The transfer was made with recourse. Records are transferred to First Factoring Financial who will receive all collections. First Factoring remits to Rowdy Raiders 85% of the factored receivables. First Factoring retains 15% to cover it's factoring fee (8%), which is paid at the beginning of the contract, and to provide a cushion against potential sales returns, allowances and discounts. Rowdy Raiders estimates that 4% of the factored accounts receivable will be uncollectible. On June 19, 2020, Rowdy Raiders and First Factoring talk and determine that Rowdy Raiders had sales returns of $18,000. All but $8,500 of the A/R was collected. Instructions: Provide the journal entry(ies) needed for Rowdy Raiders on 5/1/2020 to record the sale and entries needed on 6/19/2020. (Hint: Four journal entries are needed at 6/19/2020.) Be sure to use good entry form