The trial balance before adjustment for Marin Company shows the following balances. Dr. Cr. Accounts Receivable $85,600 Allowance for Doubtful Accounts 2,940 Sales Revenue $475,600 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, Marin factors without recourse $24,300 of accounts receivable with Stills Finance. The finance charge is 10% of the amount factored. 2. To obtain a 1-year loan of $58,900, Marin pledges $67,000 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 $5,577 should be reported. Assume the allowance has a credit balance of $1,181. No. Account Titles and Explanation Debit Credit 1. 2. 3. 4