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Coronado Incorporated factored $134,700 of accounts receivable with Whispering Factors Inc. on a without-recourse basis. Whispering assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for possible adjustments. Prepare the journal entry for Coronado Incorporated and Whispering Factors to record the factoring of the accounts receivable to Whispering.

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Presented below is information from Vaughn Computers Incorporated.

July 1		Sold $20,800 of computers to Robertson Company with terms 3/15, n/60. Vaughn uses the gross method to record cash discounts. Vaughn estimates allowances of $1,352 will be honored on these sales.
10		Vaughn received payment from Robertson for the full amount owed from the July transactions.
17		Sold $208,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30.
30		The Clark Store paid Vaughn for its purchase of July 17.

Prepare the necessary journal entries for Vaughn Computers.