Current Attempt in Progress

Nash Inc. factors receivables with a carrying amount of $$225,400$ to Joffrey Company for $$173,400$ on a with recourse basis.

The recourse provision has a fair value of $$3,330.$ This transaction should be recorded as a sale.

Prepare the appropriate journal entry to record this transaction on the books of Nash 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.$)$