Hi would like to ask your assistance to help me study this problem. I hope yo can teach in details .

this about accounting i have two situation one is

situation #1 On December 1, y4Ayleme Inc factors, without recourse$2500,000 of account receivable with MapletonCommerrcial Factoring. Mapleton Commercial Factoring will assess a finance charge of 4% of the amountof accounts receivable. Mapleton also withholds an initial; amount equal to 7% of the account receivable for any potential returns and allowances.

-- Prepare both entries for both Aylmer Inc and Mapletgon Commercial Factoring on Dec1 y4

SITUATION #2

On Jan1, Y3;AQylmer Inc sold some merchandise to London Inc for $900000 London has poor credit and signed a two-year interest bearing notre. The market rate is 5%

-- prepare all necessary entries for Aylmer Inc Y3 and Y4