Exercise 7-22 (Algo) Selling and pledging accounts receivable LO C3 On November 30, Petrov Company has $105,300 of accounts receivable and uses the perpetual inventory system. December 4 Sold $8,010 of merchandise (that had cost $5,126) to customers on credit, terms n/30. December 9 Sold $14,742 of accounts receivable to Main Bank. Main charges a 4% factoring fee. December 17 Received $4,406 cash from customers in payment on their accounts. December 27 Borrowed $8,424 cash from Main Bank, pledging $10,951 of accounts receivable as security for the loan. (1) Prepare journal entries to record the above transactions. (2) Which transaction would most likely require a note to the financial statements? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Which transaction would most likely require a note to the financial statements? Which transaction would most likely require a note to the financial statements?