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Mountaln High Ice Cream Company transferred $64,000 of accounts recelvable to the Prudentlal Bank. The transfer was made with recourse. Prudentlal remits 90% of the factored amount to Mountaln High and retalns 10% to cover sales returns and allowances. When the bank collects the recelvables, It will remit to Mountain High the retalned amount (which Mountain estimates has a fair value of $5,400). Mountaln High anticipates a $3,400 recourse obligation. The bank charges a 2% fee (2 % of $64,000), and requires that amount to be pald at the start of the factoring arrangement Required: Prepare the Journal entry to record the transfer on the books of Mountaln High assuming that the sale criteria are met. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account fleld.) View transaction list Journal entry worksheet