Scenario:

You are the head of purchasing for a large automobile manufacturing firm in Detroit, Michigan.

You are responsible for sourcing and purchasing hundreds of components, parts and other supplies from hundreds of different vendors around the world.

You are leading a company-wide project with the primary objective of improving your firm's ability to collaborate with its vendors on projects and to share information with them more efficiently.

Which of the following forms of e-business in the B2B market should you implement to achieve the objective of this project?

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.