The trial balance before adjustment for Culver Company shows the following balances. Using the data above, give the journal entries required to record each of the following cases. (Each situation is independent.) To obtain additional cash, Culver factors without recourse 523, 300 of accounts receivable with Stills Finance. The finance charge is 11% of the amount factored. To obtain a 1-year loan of S61.600, Culver assigns $70, 800 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. The company wants to maintain the Allowance for Doubtful Accounts at 7% of gross accounts receivable. Based on an aging analysis, an allowance of $6, 174 should be reported. Assume the allowance has a credit balance of $1, 041