Roxy operates a dress shop in arlington, virginia. lisa, a maryland resident, comes in for a measurement and purchases a $2,300 dress. lisa returns to virginia a few weeks later to pick up the dress and drive it back to her maryland residence where she will use the property. assuming that virginia's sales tax rate is 5 percent and that maryland's sales tax rate is 6 percent, what is roxy's sales tax liability?

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.