Kieso, Intermediate Accounting, 16e INTERMEDIATE ACCOUNTING (ACCT 372/373/374) Study & Practice Assignment Gradebook ORION Downloadable eTextbook pen Assignment BACK MEXT FULL SCREEN PRINTER VERSION Presented below is information related to Marin Corp., which sells merchandise with terms 2/10, net/60. Marin Corp. records its sales and receivables net. July 1 Marin Corp. sold to Warren Harding Co. merchandise having a sales price of $13,000. Accounts receivable of $12,200 (gross) are factored with Andrew Jackson Credit Corp. without recourse at a financing charge of 9%. cash is received for the proceeds; collections are handled by the finance company. (These accounts were all past the discount period.) Specific accounts recelvable of $12,200 (gross) are pledged to Alf Landon Credit Corp. as security for a loan of $6,100 at a finance charge of 7% of the amount of the oan. The finance company will make the conections. discount period.) Sereen 9 All the accounts receivable are past the Dec. 29 Warren Harding Co. notifies Marin that it is bankrupt and will pay only 20% of its account. Give the entry to write or the balance using the allowance method. (Note: First record the increase in the receivable on July 11 when the discount period passed.) Prepare all necessary entries in general journal form for Marin Corp. ( no entry is and enter 0 for the amounts. Credif account titles are automanically indented when the manually. Record journal entries in the order presented in the problem.) required, select "No Entry" for the account titles Debit Screen Shot