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Sage incorporated factored $167,900 of accounts recelvable with Pronghorn Factors inc. on a without-recourse basis. Pronghorn assesses a 2% finance charge of the amount of

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Sage incorporated factored $167,900 of accounts recelvable with Pronghorn Factors inc. on a without-recourse basis. Pronghorn assesses a 2% finance charge of the amount of accounts recelvable and retains an amount equal to 6% of accounts recelvable for possible adjustments, Prepare the journal entry for Sage Incorporated and Pronghorn Factors to record the factoring of the accounts receivable to Pronghom, (ff no entry is required, select "No Entry" for the occount titles and enter Ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually)

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