The trial balance before adjustment for Buffalo Company shows the following balances. Dr. Cr. Accounts Receivable $82,200 Allowance for Doubtful Accounts 3,310 Sales Revenue $440,800 Using the data above, give the journal entries required to record each of the following cases. (Each situation is independent.) 1. 2. To obtain additional cash, Buffalo factors without recourse $26,400 of accounts receivable with Stills Finance. The finance charge is 10% of the amount factored. To obtain a 1-year loan of $57,200, Buffalo pledges $73,900 of specific receivable accounts to Crosby Financial. The finance charge is 8% of the loan; the cash is received and the accounts turned over to Crosby Financial. 3. The company wants to maintain the Allowance for Doubtful Accounts at 5% of gross accounts receivable. 4. Based on an aging analysis, an allowance of $5,746 should be reported. Assume the allowance has a credit balance of $1,181. No. Account Titles and Explanation Debit Credit 1. 2. 3. 4