The trial balance before adjustment for Sheffield Company shows the following balances. Dr. Accounts Receivable $83,100 Allowance for Doubtful Accounts 2,830 Sales Revenue $445,900 Using the data above, give the journal entries required to record each of the following cases. (Each situation is independent.) 1. 2 3. 4. To obtain additional cash, Sheffield factors without recourse $27,200 of accounts receivable with Stills Finance. The finance charge is 11% of the amount factored. To obtain a 1-year loan of $63,900, Sheffield pledges $66,500 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 Allowance for Doubtful Accounts at 5% of gross accounts receivable. Based on an aging analysis, an allowance of $5,231 should be reported. Assume the allowance has a credit balance of $1,100. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation Debit Credit Question 4 of 6 < > -/1.66 E (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation. Debit Credit 1. 2 3. 4