Question 5 of 10 -/1 Indigo Corporation sold $ 708,000 of accounts receivable to Teal Mountain Inc. on a without recourse basis under IFRS, as the risks and rewards have been transferred to Teal Mountain. The transaction meets the criteria for a sale, and no asset or liability components of the receivables are retained by Indigo. Teal Mountain assesses a finance charge of 3% of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable. Prepare journal entries for both Indigo and Teal Mountain. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Indigo Teal Mountain Debit 6 Credit 11 22C Mostly cloudy ENG 202 Teal Mountain eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answe