ream Company transferred $64,000 of accounts receivable to the Prudential Bank. The transfer was made without Prudential remits 90% ofthe factored amount to Mountain High and retains 10%, when the bank collects the receivables, it recourse. will remit to Mountain High the retained amount (which Moun factored amount). tain estimates has a fair value of $5400 less a 2% fee 2% of the total Required Prepare the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria are met. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the transfer of accounts receivable. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal