*Testbank Problem 165 a-c On May 1, Bonn, the factored $1,550,000 of accounts receivable with Quick Fiance without recetas under the arrangement, Bonita was to handle deputes concernice, and Quick Finance to make the colections, handle the sales discounts, and absorb the credit scored a finance charge of 6% of the total scorectors and retained an amount equal to 2% of the total recevable to cover les discounts Prepare the journal entry required on Bonita's books Mart. Cet account thesare automatically indented when the mount is entered. Do not indent manually Date Account Tities and Explanation Det Choda Mar Prepare the journal entry regardon Quick Finances back on May 1 ( Counters are automatically indented when the amount is entered. Do not inden manually) Credit Date Account Titles and explanation May 1 pesume Bontacters the $150.000 of counts receivable with Quick Face on a with recourse basis instead. The recourse prosion has a lar value of $37.480. Prepare the journal entry required on boss tooks on May 1 (Credit account nities are automatically indented when the amount is entered. Do not inde mally) Date Account Titles and explanation Deba Credit May 1 Question Ansepto od I uved