On june 30, petrov co. has $128,700 of accounts receivable. july 4 sold $7,245 of merchandise (that had cost $5,000) to customers on credit. 9 sold $20,000 of accounts receivable to main bank. main charges a 4% factoring fee. 17 received $5,859 cash from customers in payment on their accounts. 27 borrowed $10,000 cash from main bank, pledging $12,500 of accounts receivable as security for the loan. prepare journal entries to record the above selected july transactions. (the company uses the perpetual inventory system.) (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

The Journal entries are as follows:

(i) On July 4,

Accounts receivable A/c         Dr. $7,245

To sales                                                      $7,245

(To record sold merchandise)

(ii) On July 4,

Cost of goods sold A/c        Dr. $5,000

To Merchandise inventory                      $5,000

(To record cost of goods sold)

(iii) On July 9,

Factoring fee expense A/c Dr.  $800

Cash A/c                               Dr. $19,200

To Accounts receivable                            $20,000

(To record sold accounts receivables)

(iv) On July 17,

Cash A/c      Dr. $5,859

To accounts receivables        $5,859

(To record cash received from accounts receivables)

(v) On July 27,

Cash A/c     Dr. $10,000

To Notes payable             $10,000

(To record borrowing from bank)

(vi) No entry for accounts receivable as security for the loan.

i believe it’s b because the rest don’t make sense

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.