On December $1,2023,$ Dakane Corp. sold $($factored$)$ $$200,000$ of its accounts receivable with Kwan Finance Company. Kwan charges an up$-$front $6\%$ fee for providing this service and holds back $$10,000$ of the cash sale price to protect themselves in the event there are sales returns or allowances that reduce the accounts receivable. The sale is made $$with recourse$$ meaning that Dakane may have to reimburse Kwan for any uncollectible accounts, and Dakane estimates the amount of that possible reimbursement is $$3,000.$

Required:

Record Dakane$$s entry for the transfer of the receivables on December $1,2023.$