The trial balance before adjustment for Martinez 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, Martinez 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, Martinez 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.
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.