On january 1, 2013, goll corp. issued 3,000 of its 10%, $1,000 bonds for $3,120,000. these bonds were to mature on january 1, 2023 but were callable at 101 any time after december 31, 2016. interest was payable semiannually on july 1 and january 1. on july 1, 2018, goll called all of the bonds and retired them. bond premium was amortized on a straight-line basis. before income taxes, goll's gain or loss in 2018 on this early extinguishment of debt was group of answer choices $30,000 loss. $24,000 gain. $90,000 gain. $36,000 gain.

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.