Windsor Inc. factors receivables with a carrying amount of $$228,700$ to Joffrey Company for $$175,300$ on a with recourse basis.

The recourse provision has a fair value of $$2,290.$ This transaction should be recorded as a sale.

Prepare the appropriate journal entry to record this transaction on the books of Windsor Inc. $($If no entry is required, select $"$No Entry" for

the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent

manually. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit