The trial balance before adjustment for Crane Company shows the following balances.

The following cases are independent:

To obtain cash, Crane factors without recourse $$18,000$ of receivables with Anila Finance. The finance charge is $9\%$ of the

amount factored.

To obtain a one$-$year loan of $$62,000,$ Crane assigns $$72,000$ of specific accounts receivable to Ruddin Financial. The finance

charge is $7\%$ of the loan; the cash is received.

The company wants to maintain the Allowance for Expected Credit Losses at $5\%$ of gross accounts receivable.

The company wishes to increase the allowance account by $1\mathrm{.}5\%$ of sales.

Using the data above, prepare the journal entries to record each of the above cases. $($Credit account titles are automatically indented

when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.

List all debit entries before credit entries.$)$No$.$ Account Titles and Explanation

Cash

Loss on Disposal of Receivables

Accounts Receivable

Interest Expense

Notes Payable

Bad Debt Expense

Allowance for Doubtful Accounts

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Allowance for Doubtful Accounts