On November 30, Petrov Company has $109,600 of accounts receivable and uses the perpetual inventory system....

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On November 30, Petrov Company has $109,600 of accounts receivable and uses the perpetual inventory system. December 4 Sold $7,580 of merchandise (that had cost $4,851) to customers on credit, terms n/30. December 9 Sold $15,344 of accounts receivable to Main Bank. Main charges a 6% factoring fee. December 17 Received $4,169 cash from customers in payment on their accounts. December 27 Borrowed $8,768 cash from Main Bank, pledging $11,398 of accounts receivable as security for the loan. (1) Prepare journal entries to record the above transactions. (2) Which transaction would most likely require a note to the financial statements? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount. View transaction list 1 Sold $7,580 of merchandise to customers on credit, terms n/30. 2 Record the cost of goods sold, $4,851. 3 Sold $15,344 of accounts receivable to Main Bank. Main charges a 6% factoring fee. 4 Received $4,169 cash from customers in payment on Credit Prov 5 of 10 Next On November 30, Petrov Company has $109,600 of accounts receivable and uses the perpetual inventory system. December 4 Sold $7,580 of merchandise (that had cost $4,851) to customers on credit, terms n/30. December 9 Sold $15,344 of accounts receivable to Main Bank. Main charges a 6% factoring fee. December 17 Received $4,169 cash from customers in payment on their accounts. December 27 Borrowed $8,768 cash from Main Bank, pledging $11,398 of accounts receivable as security for the loan. (1) Prepare journal entries to record the above transactions. (2) Which transaction would most likely require a note to the financial statements? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount. View transaction list 1 Sold $7,580 of merchandise to customers on credit, terms n/30. 2 Record the cost of goods sold, $4,851. 3 Sold $15,344 of accounts receivable to Main Bank. Main charges a 6% factoring fee. 4 Received $4,169 cash from customers in payment on Credit Prov 5 of 10 Next