Tamarisk Incorporated factored $166,800 of accounts receivable with Vaughn Factors Inc. on a without-recourse basis. Vaughn assesses a 3% finance charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for possible adjustments. Prepare the journal entry for Tamarisk Incorporated and Vaughn Factors to record the factoring of the accounts receivable to Vaughn. (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.) No. Account Titles and Explanation 1 2. Tamarisk Vaughn Debit Credit