Situation #1 On December 1, Y4; Aylmer Inc factors, WITHOUT recourse, $ 950,000 of accounts receivable with Mapleton Commercial Factoring. Mapleton Commercial Factoring will asssess a finance charge of 2% of the amount of the accounts receivable. Mapleton also withholds an initial amount equal to 3% of the accounts receivable for any potential returns and allowances. REQUIRED: Prepare the entries for BOTH Aylmer Inc and Mapleton Commercial Factoring on December 1, Y4 Entry for Aylmer Inc Entry for Mapleton Commercial Factoring Situation #2 On January 1, Y3; Aylmer Inc sold some merchandise to London Inc for $640,000 London has poor credit and signed a two-year, zero-interest bearing note. The market rate is 3% REQUIRED: Prepare ALL the necessary entries for Aylmer Inc for Y3 and Y4 (show all of your work)