Please help

Exercise 711 Puckett, Inc. includes the following account among its trade receivables. Alstott Co. 1/1 Balance forward 782 1/28 Cash (#1710) 1,159 1/20 Invoice #1710 3/14 Invoice #2116 1,159 4/2 Cash (#2116) 1,485 1,485 4/10 Cash (1/1 Balance) 4/12 Invoice #2412 1,980 4/30 Cash (#2412) 9/5 Invoice #3614 526 9/20 Cash (#3614 and part of #2412) 971 10/17 Invoice #4912 953 10/31 Cash (#4912) 953 11/18 Invoice #5681 Cash (#5681) 1,172 12/20 Invoice #6347 Cash (#6347) 844 2,191 12/1 844 12/29 283 1,067 Age the balance. $ $ Exercise 714 The trial balance before adjustment for Sinatra Company shows the following balances. Dr. Accounts Receivable Cr. $83,200 Allowance for Doubtful Accounts 3,470 Sales Revenue $476,000 Using the data above, give the journal entries required to record each of the following cases. (Each situation is independent.) 1. To obtain additional cash, Sinatra factors without recourse $24,400 of accounts receivable with Stills Finance. The finance charge is 11% of the amount factored. 2. To obtain a oneyear loan of $61,300, Sinatra assigns $68,800 of specific receivable accounts to Ruddin Financial. The finance charge is 9% of the loan; the cash is received and the accounts turned over to Ruddin Financial. 3. The company wants to maintain Allowance for Doubtful Accounts at 6% of gross accounts receivable. 4. The company wishes to increase the allowance account by 1.7% of net sales. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation 1. Debit Credit 2. 3. 4. Exercise 716 Gringo Corporation factors $260,600 of accounts receivable with Winkler Financing, Inc. on a with recourse basis. Winkler Financing will collect the receivables. The receivables records are transferred to Winkler Financing on August 15, 2012. Winkler Financing assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments. Assume that the conditions are met for the transfer of receivables with recou Prepare the journal entry on August 15, 2012, for Gringo to record the sal recourse liability has a fair value of $4,560. (Credit account titles are aut amount is entered. Do not indent manually Account Titles and Explanation Debit Credit