Yall I just got this from people on and I am like why is it their business if I want to end it or not like I already have enough people who I worry why do they have to get involved in it. Hi Hollywoodhaylee058. I wanted to reach out, because we're concerned about content you are posting about wanting to hurt yourself, and encourage you to get help.
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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.