View Policies Current Attempt in Progress Oriole Incorporated factored $124,300 of accounts receivable with Waterway Factors Inc. on a without-recourse basis. Waterway assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 5% of accounts receivable for possible adjustments Prepare the journal entry for Oriole Incorporated and Waterway Factors to record the factoring of the accounts receivable to Waterway. (if no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not indent manually) Debit Credit No. Account Titles and Explanation Oriole I Waterway Question 37 of 40 No. Account Titles and Explanation Debit Credit Oriole 1. Waterway 2