The trial balance before adjustment for Sunland Company shows the following balances.

		Dr.		Cr.
Accounts Receivable		$84,500
Allowance for Doubtful Accounts		3,500
Sales Revenue				$478,400

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, Sunland factors without recourse $26,800 of accounts receivable with Stills Finance. The finance charge is 11% of the amount factored.
2.		To obtain a 1-year loan of $59,200, Sunland assigns $65,000 of specific receivable accounts to Crosby Financial. The finance charge is 9% 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 $5,618 should be reported. Assume the allowance has a credit balance of $1,081.