On June 30, 2021, Blondie Fixtures was considering alternatives to bolster its cash position. Option One called for transferring $500,000 in accounts receivable to Dogwood Finance Company without recourse for a 5% fee. Option Two calls for Blondie to transfer the $500,000 in receivables to Dogwood with recourse. Dogwood's charges a 4% fee for receivables factored with recourse. Option Two meets the conditions to be considered a sale, but Blondie estimates a $4,000 recourse liability. Under either option, Dogwood will immediately remit 90% of the factored receivables to Blondie, and retain 10%. When Dogwood collects the remaining receivables, it remits the amount, less the fee, to Blondie, Blondie estimates that the fair value of the final 15% of the receivables is $24,500 (ignoring the factoring fee). Required:
1. Prepare any necessary journal entry or entries if receivables are factored under Option One.
2. Prepare any necessary journal entry or entries if receivables are factored under Option.

1. Prepare any necessary journal entry or entries if receivables are factored under Option One.

Dr Cash 450,000  (=90% × $500,000)

Dr Loss on sale of receivables 50,000

   Cr Accounts receivable 500,000

Since the fair value of the remaining receivables ($24,500 ≤ $25,000) is less than the factoring fees, then the company should not expect to receive any more money and should record the loss immediately.

2. Prepare any necessary journal entry or entries if receivables are factored under Option (two)

Dr Cash 450,000  

Dr Receivable from factor 4,500 (= fair value $24,500 - $20,000)

Dr Loss on sale of receivables 49,500

    Cr Accounts receivable 500,000

    Cr Recourse liability 4,000

Since the fair value of the remaining receivables is higher than the factoring fees ($24,500 ≥ $20,000), then you must report a factoring receivable. Any recourse liability increases the company's losses.

sound is invisible, but sometimes we can feel it. when a kettle-drum is thumped with a stick that time the tight drum skin moving up and down very quickly for some time and then it pumped sound waves into the air. loudspeakers also work in a similar manner.

components of a speaker:

electromagnet

in order to translate an electrical signal into an audible sound, an electromagnet is used in looudspeakers

  suspension

suspension is used to   center the voice coil in the gap of the magnet and it exerts a restoring force to keep it there. suspension is used to limits the maximum mechanical excursion of the diaphragm and voice coil.

voice coil

voice coil is a coil of wire which is attached to the apex of a loudspeaker cone. it provides the motive force to the cone by the reaction of a magnetic field to the current passing through it.

cone

in a   loudspeaker, a   thin, semi-rigid membrane attached to the voice coil, which moves in a magnetic gap due to which it vibrates   and produced sound. it is known as diaphragm and it can also be called a cone, though not all speaker diaphragms are cone-shaped.

surround

surround is also known as front suspension. surround is used to join the cone to the chassis. together with the suspension it controls the cone excursion, and it is also used to   determine how energy which is   travelling through the cone is absorbed, and how the speaker limits when it reaches the ends of its travel.

dustcap

dustcap is used to protect the voice coil from dust and dirt. it is a part of the cone.

how speaker work

the outer part of the cone is fastened to the outer part of the loudspeaker's circular metal rim. the inner part is fixed to   voice coil that sits just in front of a permanent magnet . when loudspeaker is hooked up to a stereo, electrical signals feed through the speaker cables into the coil. it will convert the coil into an electromagnet magnet . when electricity flows back and forth in the cables, the electromagnet either repels or attract the permanent magnet. this moves the coil back and forth, and it pull and push the loudspeaker cone. like a drum skin vibrating back and forth, the moving cone pumps sounds out into the air.in this way loudspeakers works.

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