If a nonfinancial company securitizes its accounts receivables for less than their book value, the most likely effect on the financial statements is an increase cash from operations.

1.COULD anyone write the accounting entries for me ?
  part one i know is :
  DR  :BANK DEPOSIT
  CR:  RECEIVABLES

2.DR: WHAT
  CR : PAYABLES

What is the impact on the cash flow from FINANCING  ACTIVITIES ? INCREASE OR DECREASE  OR NO IMPACT?
It's hard to believe it has no impact .