"calandra panagakos works for cibc currency funds in toronto. calandra is something of a contrarianlong dashas opposed to most of the forecasts, she believes the canadian dollar (c$) will appreciate versus the u. s. dollar over the coming 90 days. the current spot rate is $0.6751/c$. calandra may choose between the following options on the canadin dollar: option strike price premiumput on c$ $0.7000 $0.3/s$call on c$ $0.7000 $0.00049/s$should calandra buy a put on canadian dollars or a call on canadian dollars?

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.