E8-7 Presented below and on page 412 are two independent situations. (a) On March 3, Pusan Appliances sells W620,000,000 of its receivables to Universal Factors Ltd. Universal Factors assesses a finance charge of 4% of the amount of receivables sold. Prepare the entry on Pusan Appliances' books to record the sale of the receivables. (b) On May 10, Taejeon Ltd. sold merchandise for W3.200,000 and accepted the cus Lorner's America Bank MasterCard, America Bank charges a 5% service charge for credit card sales. Prepare the entry on Taejeon's books to record the sale of merchandise