on June 30, petrov co has 108.900 of acc receivable. july 4. sold 5,370 of merchandise ,that had cost 3,437 to customers on credit. 9. sold 15,246 of acc rec to main bank .main charges a 4 % factoring fee. 17. received 2,954 cash from customers in payment on their accounts 27. borrowed 8,712 cash from main bank ,pledging 11,326 of acc rec as security for the loan. prepare journal entries to record the above selected july transactions. sold 5,370 of merchandise to customers on credit. record the cost of goods sold 3,437 sold 15,246 of acc rec to main bank.main charges a 4 % factoring fee received 2,954 cash from customers in payment on their acc borrowed 8,712 cash from main bank pledged 11,326 of acc receivable as security for the loan