Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. Or April 30, 2018, the company transferred $910,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, It remits to Samson the retained amountless a 3% feel (3% of the total factored amount). Samson estimates the fair value of the last 10% of its receivables to be $71,000. Required: Prepare the journal entries for Samson Wholesale Beverage for the transfer of accounts receivable on April 30 assuming the sale criteria are met. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Event Credit Answer is complete but not entirely correct. General Journal Debit Cash 819,000 Loss on sale of receivables 43,700 Receivable from factor 47,300 Accounts receivable 910,000