Information an Prongharn Corp., which reports under ASPE, follows: July 1 Pronghorn Carp. sold to Crane Company merchandise having a sales price of $9,600, terms 2/10, n/ 60 . Ignore cost of goods sold entry. 3 Crane Company returned defective merchandise having a sales price of $500. The merchandise was not saleable and Was scrapped. 5 Accounts receivable of $19,100 are factored with Manty Carp. withaut recourse at a financing charge of 10%. Cash is received for the proceeds and collections are handled by the finance company. 9 Specific accounts receivable of $20,000 (gross) are pledged to Landon Credit Corp. as security for a loan of $10,900 at a finance charge of 3% of the loan amount plus 10% interest on the outstanding balance. Pranghorn will continue to make the collections. All the accounts receivable pledged are past the discaunt period and were ariginally subject to a 2% discount. Dec. 29 Crane Company notifies Pronghorn that it is bankrupt and will be able to pay only 10% of its accaunt. Give the entry to write off the uncollectible balance using the allowance methad. \{a\} Prepare all necessary journal entries an Prongham Carp.'s books. (Credit occount titles are autamatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter Ofor the amounts. Record joumal entries in the order presented in the