Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30,2021 , the company transferred $980,000 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 recelvables, it remits to Samson the retained amount less a 4% fee ( 4% of the total factored amount). Samson estimates the fair value of the last 10% of its receivables to be $78,000. Required: Prepare the joumal entry 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.)