Tamarisk Woodcrafters sells $200,700 of receivables to Commercial Factors, Inc. on a with recourse basis. Commercial assesses a finance charge of 7 % and retains an amount equal to 6% of accounts receivable. Tamarisk estimates that the recourse liability has a fair value of $4,835 instead of $9,670 estimated carlier art Prepare the journal entry for Tamarisk to record the sale. (f no entry is required, select "No Entry" for the account titles and enter Ofor the amounts Credit account titles are automatically indented when the amount is entered. Do net indent manually) Account Titles and Explanation Debit Credit What are the effects of this change in the valus of the recourse liability on Tamarisk's financial statements? by S Tamarisk's income will be by $ Tamarisk's will be Attemnte:0 of 1 used Dubmk ArmICC