I need help please

On June 30, 2016, Blondie Fixtures was considering alternatives to bolster its cash position. Option One called for transferring $400,000 in accounts receivable to Dogwood Finance Company without recourse f a 5% fee. Option Two calls for Blondie to transfer the s400,000 receivables to Dogwood with recourse. Dogwood's charges a 4% fee for receivables factored with recourse. Option Two meets the conditions to be considered a but Blondie estimates as3.000 recourse Under either option. Dogwood wil immediately remit 90% of the factored receivables to Blondie, and retain 10%. Dogwood collects the remaining receivables, it remits the amount, less the fee, to Blondie. Blondie estimates that the fair value of the final i0% of the receivables is s25.000 (ignoring the factoring fee). Required: 1. Prepare any necessary journal entry or entries if receivables are factored under Option One. 2. Prepare any necessary jour entry or entries ifreceivables are factored under option Two. 3) Thompson TV and Appl iance reported the following in its 2016 financial statements: 2016 S120,000 Cost of goods sold Inventory, January 000 Net purchases Goods available for sale 122000 Inventory, December 3 86,00 Cost of goods sold 336 00 84,000 ross profi 80,000 Thompson's 2016 inventory tumover ratio is 3) A) 3.91. B) 4.88. C) 4.00, D) 5.00