pe here to search Question 8 of 11 > Your answer is partially correct. The trial balance before adjustment for Nash Company shows the following balances. Dr. Cr. Accounts Receivable $86,900 Allowance for Doubtful Accounts 2,580 Sales Revenue $463,000 0.5/1 Using the data above, give the journal entries required to record each of the following cases. (Each situation is independent) 1. 2 To obtain additional cash. Nash factors without recourse $26.100 of accounts receivable with Stills Finance. The finance charge is 11% of the amount factored. To obtain a 1-year loan of $60.900. Nash pledges $68,100 of specific receivable accounts to Crosby Financial. The finance charge is 8% of the loan: the cash is received and the accounts turned over to Crosby Financial. 3. The company wants to maintain Allowance for Doubtful Accounts at 6% of gross accounts receivable. 251 PM Question 8 of 11 1 Cash Loss on Sale of Receivables Accounts Receivable 2. Cash 3. 4. Interest Expense Notes Payable Bad Debt Expense Allowance for Doubtful Accounts Bad Debt Expense Allowance for Doubtful Accounts 05/1 1 26100 60900