1. Record the following journal entries for Starcups

Jan 1: Accepted a customers $10,000, 1-year, 10% note in exchange for their pre-existing AR balance.

Jan 3: Sold accounts receivable of $5,000 to a factorer. A 2.5% service is assessed by the factored.

Jan 7: Wrote off $8,000 of accounts receivables as uncollectible.

Jan 10: Estimates that 3% of all credit sales (totaling $102,000) made in December of the prior year will be uncollectible.

Jan 18: Starcups loans $10,000 cash to a business associate on a 1-year, 12% note.

Jan 31: Accrued interest on the note from January 1^st for 1 month.