Fill in in the blanks with following terms.1. Spend $60 on the latest video game, or give $60 to charity 2. Number of advertisements a person views daily 3. Wait before making a major purchase 4. Caveat Emptor 5. Seek wise 6. An amount of money spent that causes some pain 7. Creates consumer awareness for a trademark or product 8. Borrowing money and paying over time:a. oppurtunity costb. overnightc. financingd. counsile. buyer bewaref. significate purchaseg. 3000h. branding

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.