Sheridan Corp. factors $370,000 of accounts receivable with Skysong Finance Corporation on a without recourse basis on July 1. 2025. The receivables records are transferred to Skysong Finance, which will receive the collections. Skysong Finance assesses a finance charge of 1.70% of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable to cover sales discounts, returns, and allowances. The transaction is to be recorded as a sale. (a) Prepare the journal entry on July 1, 2025, for Sheridan Corp. to record the sale of receivables without recourse. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation July 1, 2025 Debit Credit