Choose the correct category for the items from Sun Company's perspective. 1) Real Assets
2) Financial Assets
a. Land purchased by Sun Company from a local finance company
b. Sun Company's administration building, which houses the finance department
c. Sun Company's inventories of raw materials
d. Accounts receivable: money owed to Sun Company by other companies who have purchased products on credits
e. Sun Company's corporate checking accounts

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.