On September 1, Global Compairy factored $800,000 of acts able with Marks Financing without recourse besis. Under the was to make the collections, handle the sales discounts, and absorb the credit lors Marks Financing d f chargs of 0 of the factored and retained an amount equal to 3% of the total receivables to cover les discounts v Required: & Prepare the journal entry required on Marks Financing on September 1. b. Assume Global Company factors the $800,000 of accounts receivable with Marks Financing on with recourse besis. Prepare the journal entry pred Global company's book on September 1.