Ann is considering the purchase of a life insurance policy with these characteristics: flexible premium payments; the insurance and savings components are separate; the interest rate credited to the savings is tied to a market interest rate but a minimum rate is guaranteed; and a monthly administrative fee is charged) ann is considering buying
a) whole life insurance. b) variable life insurance. c) universal life insurance. d) current assumption whole life.

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.