Business, 15.10.2019 22:30 kayla2945

The trial balance before adjustment for martinez company shows the following balances. dr. cr. accounts receivable $84,700 allowance for doubtful accounts 2,700 sales revenue $462,400using the data above, give the journal entries required to record each of the following cases. (each situation is independent.)1. to obtain additional cash, martinez factors without recourse $23,300 of accounts receivable with stills finance. the finance charge is 11% of the amount factored.2. to obtain a 1-year loan of $61,600, martinez assigns $70,800 of specific receivable accounts to crosby financial. the finance charge is 8% of the loan; the cash is received and the accounts turned over to crosby financial.3. the company wants to maintain the allowance for doubtful accounts at 7% of gross accounts receivable.4. based on an aging analysis, an allowance of $6,174 should be reported. assume the allowance has a credit balance of $1,041.

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The trial balance before adjustment for martinez company shows the following balances. dr. cr. accou...

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