RG Enterprises is conducting its budget for the 2020 year. Management projects to have Sales as follows for the first six months of the year: January $2,000 February 3,000 March 4,000 April 5,000 May 6,000 June 5,000 5K If Cash from the Sales is received 40% during the month that the sale was made, 30% during the month following the month that the sale was made and 20% two months after the sale and 10% is not collected at all, what would be the amount of Cash collected during the month of APril

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.