help

Question 10 8 points On September 1, Global Company factored $800,000 of accounts receivable with Marks Financing on a without recourse basis. Under the arrangement, Marks Financing was to make the collections, handle the sales discounts, and absorb the credit losses Marks Financing assessed a finance charge of 6% of the total accounts receivable factored and retained an ansunt equal to 3% of the total receivables to cover sales discounts. Required: Prepare the journal entry required on Marks Financing on September 1 b. Amme Global Company factors the $800,000 of accounts receivable with Marks Financing on a with recourse basis. Prepare the journal entry required oo Global company's book ou September 12 For the toolbar, press ALT-F10 (PC) or ALT-FN-F10 (Mac) BIVS Paragraph Anal 10pt EEA 2 IxOQ Question 5 Which of the following represents a form of communication through financial reporting but not through financial statements? OA Statement of financial position. OB Notes to financial statements. O.C. Statement of Cash Flows. OD. Management Forecasts