The trial balance before adjustment for Larkspur Company shows the following balances. Dr. Cr. Accounts Receivable $ 84,700 Allowance for Doubtful Accounts 2,700 Sales Revenue $ 462,400 Using the data above, give the journal entries required to record each of the following cases. (Each situation is independent.) 1. To obtain additional cash, Larkspur factors without recourse $ 23,300 of accounts receivable with Stills Finance. The finance charge is 11% of the amount factored. 2. To obtain a 1-year loan of $ 61,600, Larkspur pledges $ 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. 3. The company wants to maintain the Allowance for Doubtful Accounts at 7% of gross accounts receivable. 4. Based on an aging analysis, an allowance of $ 6,174 should be reported. Assume the allowance has a credit balance of $ 1,041. No. Account Titles and Explanation Debit Credit 1. Notes Receivable Loss on Sale of Receivables Accounts Receivable 23 23300 2. Cash Interest Expense Notes Payable 61600 3. Bad Debt Expense Allowance for Doubtful Accounts 4. Bad Debt Expense Allowance for Doubtful Accounts