For each source information shown below, prepare the appropriate journal entry. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.) a. purchase order dated october 13 for massage chairs costing $835 and oil supplies costing $310. b. remittance advice from customer for $107, received october 17. c. receiving report indicating october 22 receipt of october 13 order. also received supplier invoice totaling $1,145 d. ngs check for payment in full of october 13 order.

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.