Ronda's Corporation factored (sold) a two month 12% $3,000 note to a collection agency (Bridge's Inc.) for $3,030 one month after issuance. Which of the following statements is true with regards to this transaction?

1)None of the other alternatives are correct

2)If the note was factored with recourse, we do not need a note in the financial statements

3)It is currently Ronda's Corporation's obligation to collect the note of $3,000

4)Ronda's Corporation will record a journal entry to Dr. Note receivable $3,000. Dr. Interest Income $30 and Cr. Cash $3,030

5)The note receivable of $3,000 has now been pledged as security to Bridge's Inc.