stion 4 On July 1.5w Company for 600.000 fer without recourses - face charge of the fact of the Required: Prepare them and Prett Financing A Star Company for the $50.00 Pre Financing Course For 100. SALTOPOGANIM BIS Page An E- 2x09 FEB Moving to another question will save this response. Question 4 On July 1, Star Company factored $600,000 of accounts recevable with Prett Financing on a without recourse basis Under the wrapment Pred Finance was to a finance charge of 7% of the total accounts receivable factored and retained amount equal to 2% of the total receivables to cover als discos Required: Prepare the journal entry required on Prett Financing on July 1 b. Assume Star Company factors the $600,000 of accounts receivable with Prett Financing on a with recourse basis. Prepare the journal entry on Star campus For the toolbar, press ALT+F10 (PC) or ALT-FN-F10 (Mad. B TVs Paragraph Arial 10pt T: XOOQ 52 v Question of 12 8 points basis. Under the arrangement, Prett Financing was to make the collections, handle the sales discounts, and absorb the credit losses. Prett Financing assessed civables to cover sales discounts nurse basis Prepare the journal entry required on Star company's book on July 1