The trial balance before adjustment for martinez company shows the following balances. dr. cr. accounts receivable $84,700 allowance for doubtful accounts 2,700 sales revenue $462,400using the data above, give the journal entries required to record each of the following cases. (each situation is independent.)1. to obtain additional cash, martinez factors without recourse $23,300 of accounts receivable with stills finance. the finance charge is 11% of the amount factored.2. to obtain a 1-year loan of $61,600, martinez assigns $70,800 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.3. the company wants to maintain the allowance for doubtful accounts at 7% of gross accounts receivable.4. based on an aging analysis, an allowance of $6,174 should be reported. assume the allowance has a credit balance of $1,041.

Explanation:

The journal entries are shown below:

1. Cash A/c Dr                    $20,737

  Financial charge A/c Dr $2,563

           To Accounts receivable       $23,300

(Being additional cash is recorded and the remaining amount is debited to the cash account)

The financial charge = Accounts receivable × financial charge percentage

= $23,300 × 11%

= 2,563

2. Cash A/c Dr                    $56,672

  Financial charge A/c Dr $4,928

           To Notes payable       $61,600

(Being additional cash is recorded and the remaining amount is debited to the cash account)

The financial charge = Accounts receivable × financial charge percentage

= $61,600 × 8%

= $4,928

3. Bad debt expense A/c Dr  $5,929

            To Allowance for doubtful debts  $5,929

(Being bad debt is recorded)

The computation of bad debt is shown below:

= Gross accounts receivable × given percentage

= $84,700 × 7%

= $5,929

4. Bad debt expense A/c Dr  $5,133

            To Allowance for doubtful debts  $5,133

(Being bad debt is recorded)

The computation of bad debt is shown below:

= Reported allowance balance - credit balance

= $6,174 - $1,041

= $5,133

if you use only 25 for your entertainment and only 200 for the groceries that you really need and take out the 50 per month for the computer then that should be enough

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invest in people's funds in securities

accept tax return refunds