Determining the effects of stock splits on the accounting recordsthe market value of yeates corporation’s common stock had become excessively high. the stock was currently selling for$240 per share. to reduce the market price of the common stock, yeates declared a 3-for-1 stock split for the 100,000outstanding shares of its $10 par value common stock. required3. what entry will be made on the books of yeates corporation for the stock split? b. determine the number of common shares outstanding and the par value after the split. c. explain how the market value of the stock will be affected by the stock split.

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.