I. X 1 Question 7 Save Anger 8 points On July 1, S Copy faced $900,000 of accounts receivable with Prett Financing on a without recourse basis. Under the arrangement, Prett Financing was to make the collects handle the sales discounts, and absorb the credit losses Pratt Financing assessed a finance charge of 5% of the total accounts receivable factored and squal to 3% of the total receivables to cover sales discounts Required Prepare the al entry required on Prett Financing on July 1. Amme Star Company fachoes the 5900,000 of accounts receivable with Prett Financing on a with recourse basis. Prepare the journal entry required on Sta copy's book on July 1 For the soobar press ALT-30 PO ALT-FN-F10 M