A paper company is opening a new branch. In addition to providing the new branch manager and employees with handbooks detailing their jobs, the firm places experienced personal at the new branch for 6 months to teach hands-on skills and share their know-how. In this scenario, the handbooks transfer explicit knowledge, while the experienced personnel insure the acquisition of tacit knowledge.
a. True
b. False

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.