Sally looks at her college transcript and says to you, "how is this possible? my grade point average (gpa) for this semester's courses is higher than my gpa for last semester's courses, but my cumulative gpa still went down from last semester to this semester." explain to sally how this is possible.
a. sally took more courses last semester than this semester.
b. sally's gpa for last semester was equal to her cumulative gpa.
c. sally's gpa for this semester is higher than her cumulative gpa.
d. this is not possible, and sally's cumulative gpa has been calculated incorrectly.
e. sally's gpa for this semester is lower than her cumulative gpa.

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.