Return to Blackboard Kleso, Intermediate Accounting, 16e Help I System Announcements NEXT CALCULATOR RENTER VERSION : BACK Headland Company sold $9,850 of its specialty shelving to Elkins Office Supply Co. on account. Prepare the entries when (a) Headland makes the sale. (If no entry is required, select "No Entry" for the account tities and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually,) Account Titles and Explanation Debit Credit (b) Headland grants an allowance of $631 when some of the shelving does not meet exact specifications but still could be sold by Elkins. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (e) at year-end. Headland estimates that an additional $205 in allowances will be granted to required, select "No the amounts. Credit account tities are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit MacBook Ai Kleso, Intermedlate Accounting, 16e Help I System Announcements CALCULATOR PRINTER VERSTONBACK NE Hunt Incorporated sold $271,000 of accounts receivable to Gannon Factors Inc. on a with ecelvable to Gannon s recourse basis. Gannon assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 7% of accounts receivable for possible adjustments. Prepare the journal entries for Hunt Incorporated and Gannon Factors to record the sale of the accounts recei ivable to Gannon assuming that the recourse liability has a fair value of $14,000. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually.) Account Titles and Explanation Hunt Incorporated Debit Credit dy Gannon Factors SHOW LIST OF ACCOUNTS LINK TO TEXT MacBook Air