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i need answers for 2 part. please help me. Thank you! Sunland...

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Accounting

i need answers for 2 part. please help me. Thank you! image
Sunland Corporation factors $261.100 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathleen Battle Financing will collect the receivables. The receivables records are transferred to Kathleen Battle Financing on August 15, 2025. Kathleen Battle Financing assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments. (b) Assume that the conditions are met for a transfer of receivables with recourse to be accounted for as a sale. Prepare the journal entry on August 15,2025, for Sunland to record the sale of receivables, assuming the recourse obligation has a fair value of $3,370. (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.)

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