Make the required journal entry in the governmental activities general journal to accrue six months of interest payable on the 2.5% deferred serial bonds from the july 1 interest payment until the end of the fiscal year, december 31, 2020. for this entry, assume that the appropriate amount of amortization of the premium on deferred serial bonds payable is $875. (recall that interest is not accrued for the period july 1 to december 31, 2020 in the debt service fund as no appropriation exists for this expenditure and the interest is not due this fiscal year.)

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.