Tony manages a music store. his server is a desktop pc in the room upstairs, which is connected to a point-of-sale terminal in the store. besides these he uses a portable tablet (using the store’s wireless access to the internet) that he uses to look up stock for an item, or to search his suppliers’ database for custom orders etc. which of the following is true? tim must have a web site in order to use his notebook. the notebook is on the same network as the point-of-sale terminal. tony must have an isp in order to access the internet from his notebook. the notebook will work only when the desktop computer is turned on. all of the above are true.

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.