Question 9 of 14 -/1 Que Acco Entr Drog View Policies Current Attempt in Progress Qu Acce Monty Corporation factors $256,800 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathleen Battle Financing will collect the receivables. The receivables records are transferred to Kathleen Battle Financing on August 15, 2020. Kathleen Battle Financing assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments. Qu Ac Dro Qu (b) Assume that the conditions are met for a transfer of receivables with recourse to be accounted for as a sale. Prepare the journal entry on August 15, 2020, for Monty to record the sale of receivables, assuming the recourse obligation has a fair value of $4,660. (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) Dre Question 9 of 14 Date Account Titles and Explanation Debit Credit Aug. 15, 2020 Cash Over and Short Due from Factor Loss on Sale of Receivables Recourse Liability Accounts Receivable e Textbook and Media List of Accounts Attempts of