As of January 1, 2021, Barley Co. had a credit balance of $539,000 in its allowance for uncollectible accounts. Based on experience, 1% of Farley's gross accounts receivable have been uncollectible. In 2021, Farley wrote off $669,000 of accounts receivable. Barley's gross accounts receivable as December 31, 2021 is $18,950,000. How much bad debt expense should Barley record for 2021?

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.