Ryan has the following capital gains and losses for 2018: $6,000 stcl, $5,000 28% gain, $2,000 25% gain, and
$6,000 0%/15%/20% gain. which of the following is correct:

a. the net capital gain is composed of $1,000 25% gain and $6,000 0%/15%/20% gain.
b. the net capital gain is composed of $5,000 28% gain and $2,000 0%/15%/20% gain.
c. the net capital gain is composed of $3,000 28% gain, $2,000 25% gain, and $2,000 0%/15%/20% gain.
d. the net capital gain is composed of $1,000 28% gain and $6,000 0%/15%/20% gain.

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale. required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse. b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this. c. explain the difference between sale of receivables with recourse as oppose to without recourse.