31 Horton Company has the following accounts receivable in its general ledger at July 31:Accounts Receivable $40.000. During August, the following transactions occurred 2.5 Aug. Added 1% finance charges to $20,000 of credit card balances for not paying within the 30 day prace period. (1 SMarks) 15 Sold 35,000 of accounts receivable to Fast Factors Inc. who charge a 2% commission (3Marks) 28 Collected 57.000 from Horton credit card customers including $350 of tinance charges previously billed. (2 marks) Instructions (a) Journalize the transactions. (6.5Marks) (b) Indicate the statement presentation of finance and service charges. (Mark) 35