Sheridan Incorporated sold $279,000 of accounts receivable to Gannon Factors Inc. on a with recourse basis. Gannon assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 7% of accounts receivable for possible adjustments. Prepare the journal entries for Sheridan Incorporated and Gannon Factors to record the sale of the accounts receivable to Gannon assuming that the recourse liability has a fair value of $13,800. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Sheridan Incorporated Debit Credit Cash Due from Factor Loss on Sale of Receivables Accounts Receivable Recourse Liability Gannon Factors Accounts Receivable Due to Customer