Current Event Directions
Use the Internet to find an article that deals with the financial records of a business. Once you have found and read your article, record your summary and the link location using the following format in the box below. Be sure to include the URL links you used as resources in the space below. Submit your work below.

Paragraph #1 - Summary of article and link
Paragraph #2 - How it relates to entrepreneurship
Paragraph #3 - Your opinion of how the business will do in the next few months based on its financial records.

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.