Question: Coronado Ltd . factors receivables with a carrying amount of 2 6 0 , 0 0 0 to Warren Company for 2 0

Coronado Ltd $.$ factors receivables with a carrying amount of $£ 260, 000$ to Warren Company for $£ 208, 000$ and guarantees all credit losses.

Prepare the appropriate journal entry to record this transaction on the books of Coronado Ltd $. ($ 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. $)$

Coronado Ltd $.$ factors receivables with a carrying amount of $£ 260, 000$ to Warren Company for $£ 208, 000$ and guarantees all credit losses.

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