Question 5 of 14 > -/1 Current Attempt in Progress The trial balance before adjustment for Carla Company shows the following balances. Dr. Cr. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue $83,100 3,380 $443,800 Using the data above, give the journal entries required to record each of the following cases. Each situation is independent) 1. To obtain additional cash, Carla factors without recourse $26,200 of accounts receivable with Stills Finance. The finance charge is 10% of the amount factored. 2. To obtain a 1-year loan of $58,600, Carla pledges $70.800 of specific receivable accounts to Crosby Financial. The finance charge is 8% of the loan: the cash is received and the accounts turned over to Crosby Financial 3. The company wants to maintain the Allowance for Doubtful Accounts at 7% of gross accounts receivable 4. Based on an aging analysis, an allowance of $5,786 should be reported. Assume the allowance has a credit balance of 51.122 Question 5 of 14 -11 when the amount is entered. Do not indent manually Debit Credit No. Account Titles and Explanation 1. Loss on Sale of Receivables 2,620 Cash 23,580 Accounts Receivable 26.200 2 Interest Expense 4,688 53,912 58.600 Notes Payable 3 Bad Debt Expense Allowance for Doubtful Accounts axtarakan Media