List of accounts:

Accounts Payable Accounts Receivable Advertising Expense Allowance for Doubtful Accounts Bad Debt Expense Cash Cash Over and Short Due from Factor Due to Customer Discount on Notes Payable Discount on Notes Receivable Freight-In Freight-Out Gain on Disposal of Land Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land Loss on Sale of Receivables Miscellaneous Expenses No Entry Notes Payable Notes Receivable Office Expense Owner's Drawings Petty Cash Postage Expense Purchase Discounts Recourse Liability Sales Discounts Sales Discounts Forfeited Sales Revenue Service Revenue Supplies Supplies Expenses Unearned Sales Revenue

The trial balance before adjustment for Sunland Company shows the following balances. Dr. Cr. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue $84,500 3,500 $478,400 of the following cases. Using the data above, give the journal entries required to record each Each situation is independent.) 1. To obtain additional cash, Sunland factors without recourse $26,800 of accounts receivable with Stills Finance. The finance charge is 11% of the amount factored. To obtain a 1-year loan of $59,200, Sunland assigns $65,000 of specific receivable accounts to Crosby Financial. The finance charge is 9% of the loan; the cash is received and the accounts turned over to Crosby Financial 2. 3. The company wants to maintain the Allowance for Doubtful Accounts at 5% of gross accounts receivable. 4. Based on an aging analysis, an allowance of $5,618 should be reported. Assume the allowance has a credit balance of $1,081 (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2. 3. 4