Presented below is information related to Concord Corp. August 1 5 9 Concord Corp.sold to Sharper Co.merchandise having a sales price of $21.900 with terms 1/10, net/60. Concord records its sales and receivables net. Accounts receivable of $51,700 (gross) are factored with Easy Credit Corp. with recourse at a financing charge of 5%. Cash is received for the proceeds: collections are handled by the finance company. (These accounts were all past the discount period.) Specific accounts receivable of $32,500 (gross) are pledged to Second Credit Corp. as security for a loan of $19.500 at a finance charge of 6% of the amount of the loan. The finance company will make the collections. (All the accounts receivable are past the discount period.) Sharper Co. notifies Concord that it is bankrupt and will pay only 19% of its account. Give the entry to write off the uncollectible balance using the allowance method. (Note: First record the increase in the receivable when the discount period passed.) Sep. 29 Prepare all necessary entries in general journal form for Concord Corp. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) 8/1 Accounts Receivable 21900 Sales Revenue 21900 8/1 Accounts Receivable 219 Sales Discounts Forfeited 219 (To record discount forfeited) 8/5 > Cash Finance Charge I LA Accounts Receivable 51700 (To record receipt) 8/5 Accounts Receivable Sales Discounts Forfeited TOT NU TUD (To record discount forfeited) 8/9