Question points On July 1, Star Company factored $600,000 of accm receivable with Prett Financing on a without recourse basis. Under the arrangement, Piet Vinnocing was to make the collection handle the sales discounts, and abioth the credit loeses Prett Financing assessed a finance charge of 7% of the total accounts receivable factored and retained equal of the sotal receivables to cover asles discounts Required: t Prepare the journal entry required on Prett Financing on July 1 Am Star Company factors the $600,000 of accounts receivable with Prett Financing on a with recourse basis. Prepare the journal entry required on Star company's book on July 1 For the toolbar, press AL THEO (PO or ALTENF10 (Mac) B lus Paragraph 3 Arial 10pt v E T Q