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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.

Suppose that in the year 2020 the price level in the fictional country of demet is 100, and the governement is considering

Use the following selected information from wheeler, llc to determine the 2017 and 2016 trend percentages for cost of goods sold using 2016 as the base. 2017 2016 net sales $ 277,700 $ 231,700 cost of goods sold 151,600 129,890 operating expenses 54,940 52,940 net earnings 28,320 20,120