When Alexander and Deborah married, Alexander owned a duplex in a community property state. They lived in one side of the duplex; saved their money and bought a lake lot as tenants by the entirety. Deborah failed to pay the loans she took out from Savings Bank prior to her marriage to pay for college. The bank claimed the duplex, the lake lot and their savings. Discuss the likelihood of success of the bank's claims against the properties.

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.