E14 The trail balance before adjustment for Sinatra company shows the following balances. Dr. Cr. Accounts Receivable $82,000 Allowance For Doubtful Accounts 1,700 Sales Revenue $430,000 Instructions Using data above, give the journal entries required to record each of the following case. 1. To obtain additional cash, Sinatra factors without recourse $20,000 of accounts receivable with stills finance. The finance charge is 10 % of the amount factored. A one-year loan of 55,000 2. To obtain a one-year loan of $ 55,000, Sinatra assigns $65,000 of specific receivable account to Ruddin financial. The finance charge is 8% of the loan; The cash is received and the accounts turned over to Ruddin Financial 3. The company ants to maintain allowance for Doubtful accounts as 5% of gross accounts receivable. 4. The company wishes to increase the allowance account by 1 % of net sales