1. Prepare all the journal entries necessary by inder to record the given information, assuming the transfor was without recourse. For grading purposes, use March 31 to record the sales retums on transferred accounts. General Journal Instructions All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. Inder Corporation is expeniencing a temporary cash shortage and decides to transfer a group of its accounts roceivable to Newton Company on March 22 . Inder does not normally transfer its receivables. Newton accepts $80,000 of Inder's accounts receivable, remits 90% of the accounts receivable transferred, and charge: a 16% commission on the gross amount of the transferred receivables. Title to the receivables is transferred to Newion, and Newton has the right to assign, "pledge, or sell the receivables. During the period, sales returns and allowances on transferred accounts amounted to $1,500. Required: 1. Prepare all the joumal enfries necessary by Inder to record the preceding information, assuming the transfor was without rocourse. 2. Prepare all the journal entries nocessary by Inder to rocord the proceding information, assuming the transfor was with recourse and the recourse obligation had an estimated tair value of $4,500. 2. Prepare all the journal entries necessary by inder to record the given information, assuming the transfer was with recourse and the recourse obligation had an estimated fair value of $4,500. Question not attempted