Sales revenue$ 4,000purchases of direct materials$ 400direct labor$ 450manufacturing overhead$ 620operating expenses$ 650beginning raw materials inventory$ 200ending raw materials inventory$ 180beginning work in process inventory$ 320ending work in process inventory$ 410beginning finished goods inventory$ 250ending finished goods inventory$ 200what was direct materials used? a) $600b) $380c) $420d) $400

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.