B U TT 77 2 3 5 6 7 8 9 10 11 12 A Moving to another question will save this response. Question 11 On July 1, Star Company factored $600,000 of accounts receivable with Prett Financing on a without recourse basis. Under the arrangement, Prett Financing was to make the collections, ha a finance charge of 7% of the total accounts receivable factored and retained an amount equal to 2% of the total receivables to cover sales discounts Required: a. Prepare the journal entry required on Prett Financing on July 1. b. Assume Star Company factors the $600,000 of accounts receivable with Prett Financing on a with recourse basis. Prepare the journal entry required on Star company's book on J For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Paragraph Arial 88 10pt {B} V Tx E