Janus Co$.$ transferred $$20,000$ of receivables to Factor's Inc. The transfer was made with recourse.

Factor's Inc. remits $90\%$ of the factored amount to Janus Co$.$ and retains $10\%$ to cover sales

returns and allowances.

When the factor collects the receivables, it will remit to Janus Co$.$ the retained amount

Estimated fair value of retained amount is $$1,700.$

Janus Co$.$ anticipates a $$200$ recourse obligation.

The factor charges a $2\%$ fee $(2\%$ of $20,000)$ to be paid at the start of the factoring agreement.

Prepare Janus Co$.\text{'}$s journal entry to record the transfer assuming that the sale criteria are met.