1) Shafter company has the following accounts in its general ledger at July 31. Accounts receivable $49000 and Allowance Db Acc $3400. During Aug, the following transaction occurs.

Aug 15: Sold $30000 of accounts receivable to More Factors, Inc, who assesses a 2% finance charge.

Aug 25: Made sales of $2500 on Visa credit card. The credit card service charge is 3%

Aug 28: Made sales of $4000 on Shafter credit cards

Journalize transaction.

2) On Jan16 2015, Whole Circle has sold goods worth $5000 to Smith on account. It could not collect cash from the customers, and finally decide to write off the accountant Dec31 2015. However, in Nov4 2016, Smith approach the company to make payment, and made payment of $4000. Journalize Dec31 2015 and Nov4 2016.