Question 3. (5 Marks) Case 1 (1.5 Marks) The Martinez Corporation factors AED 250,000 of its account receivable with ENBD Inc. factors on a without guarantee basis. ENBD Inc. will collect the receivables. Martinez Corporation transfers the receivables records to ENBD Inc. in September 10, 2019. ENBD Inc. assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments. Required: Prepare the journal entry on September 10, 2019 for Martinez Corporation to record the sale of receivables. Answer Case 2 (1.5 Marks) Based on the information in Case 1, assuming the Martinez Corporation factors AED 250,000 of its account receivable with ENBD Inc. factors on a with guarantee basis. Required: Prepare the journal entry on September 10, 2019 for Martinez Corporation to record the sale of receivables. Answer