Dominick wants to sell his car for the Kelly Blue Book value of $10,500. Dominick spends $50 on products to detail the car and $30 to advertise the sale of the car. He asks $11,000 for the car and sells the car for $10,000.
What is the difference between the asking price and the selling price of the car?
Compare the overall cost of selling the car with the price at which the car was sold.

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.