VPN, Inc. enters into an arrangement with Malone Enterprises by which Malone will purchase $105,500 of VPN's receivables and charge a 8% fee. As part of the agreement, Malone will hold back $8,600 as additional security. VPN sold the receivable with recourse, and the estimated recourse liability is $3,400. Requirement Prepare the journal entry to record the agreement assuming that the transaction qualifies as a sale for VPN. (Record debits first, then credits. Exclude explanations from any journal entries.) Account Current Year