$.(18\backslash \%)$ Baboon Ltd$.$ factors receivables with a carrying amount of $\backslash (\backslash$$ $300,000\backslash )$ to Armadillo Company for $\backslash (\backslash$$ $307,320\backslash )$ on without guarantee $($no recourse$)$ basis. Baboon Ltd$.$ retains the right to service the receivables. Instructions Prepare the journal entries for Situations $1,2,$ and $3,$ respectively, on the books of Baboon Ltd$.$