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Task Transfer of Receivables without Recourse and with Recourse) Strassner Corporation factor $262.500 of accounts receivable with Sultanali Financing Inc. on a with recor basis.

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Task Transfer of Receivables without Recourse and with Recourse) Strassner Corporation factor $262.500 of accounts receivable with Sultanali Financing Inc. on a with recor basis. Sultanal Financing will collect the receivables. The ab s ords are transferred to Sultanal Financing on August 15, 2019. Sultanali Financing assesses a finance charge of 19 of the amount of accounts receivable and also reserves an amount equal to 596 of accounts receivable to cover probable adjustments. Instructions A Prepare the journal entry on August 15, 2019, for both Strassner and Sultanali to record the sale of receivables without recourse B. Prepare the journal entry on August 15, 2019 for both Strassner and Sultanali to record the sale of receivables with recourse, assuming the recourse obligation has a fair value of $3,000

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