On November 30, Petrov Co. has $147,700 of accounts receivable and uses the perpetual inventory system.

Dec.		4		Sold $5,345 of merchandise (that had cost $3,421) to customers on credit, terms n/30.
		9		Sold $20,678 of accounts receivable to Main Bank. Main charges a 10% factoring fee.
		17		Received $2,940 cash from customers in payment on their accounts.
		27		Borrowed $11,816 cash from Main Bank, pledging $15,361 of accounts receivable as security for the loan.

(1) Prepare journal entries to record the above transactions. (2) Which transaction would most likely require a note to the financial statements?