Swifty Enterprises sold $740,000 of accounts receivable to Wildhorse Factors, Inc. on a without recourse basis under IFRS, as the risks and rewards have been transferred to Wildhorse. The transaction meets the criteria for a sale, and no asset or liability components of the receivables are retained by Swifty. Wildhorse Factors assesses a finance charge of 5% of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable. Prepare journal entries for both Swifty and Wildhorse. Use the account Due to Customer for Wildhorse. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Swifty. Debit Credit Wildhorse Save for Later Attempts: 0 of 3 used Submit Answer