On November 30, Petrov Co. has $137,000 of accounts receivable and uses the perpetual inventory system. Dec. 4 Sold $5,620 of merchandise (that had cost $3,597) to customers on credit, terms n/30. 9 Sold $19,180 of accounts receivable to Main Bank. Main charges a 8% factoring fee. 17 Received $3,091 cash from customers in payment on their accounts. 27 Borrowed $10,960 cash from Main Bank, pledging $14,248 of accounts receivable as security for the loan. (1) Prepare journal entries to record the above transactions. (2) Which transaction would most likely require a note to the financial statements?

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.