Question \#3 a. Rocky Mountain Industries, Inc. sells (factors) $1,225,000 of Accounts Receivables with the Sierra Finance Company on a without recourse basis. Sierra Finance acquires the receivables on March 31, 2023 assessing a finance charge of 5\%, and also reserving 8% for covering probable adjustments. Based on the contractual arrangement above, prepare the journal entry at March 31, 2023 for Rocky Mountain Industries, Inc. b. Alamo Pet Supply sells (factors) $400,000 of Accounts Receivables with the Purina Finance Company on a with recourse basis. Purina Finance acquires the receivables on January 31 , 2023 assessing a finance charge of 3%, and also reserving 4% for covering probable adjustments. The recourse obligation has a fair value of $9,000. Based on the contractual arrangement above, prepare the journal entry at January 31, 2023 for Alamo Pet Supply