A company provides two applications to its employees. The first application is managed by the Accounting department, and allows employees to submit expense reports for reimbursement. The second application is managed by the IT department, and allows employees to submit support tickets for IT-related issues. Both applications require a data element to track the status of cases. Select the best strategy for implementing this requirement.
1) Create one data element in the org layer for both applications to use.
2) Check the inheritance path to determine if an appropriate data element is already available.
3) Create one data element in the class group layer for both applications to use.
4) Create a data element for each case type, because they may use different status values.

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.