Presented below is information related to James Garfield Corp.

July 1 James Garfield Corp. sold to Warren Harding Co. merchandise having a sales price of $16,000 with terms 2/10, net/60. Garfield records its sales and receivables net.
5 Accounts receivable of $14,800 (gross) are factored with Andrew Jackson Credit Corp. without recourse at a financing charge of 8%. Cash is received for the proceeds; collections are handled by the finance company. (These accounts were all past the discount period.)
9 Specific accounts receivable of $14,800 (gross) are pledged to Alf Landon Credit Corp. as security for a loan of $6,500 at a finance charge of 7% of the amount of the loan. The finance company will make the collections. (All the accounts receivable are past the discount period.)
Dec. 29 Warren Harding Co. notifies Garfield that it is bankrupt and will pay only 20% of its account. Give the entry to prepare off the uncollectible balance using the allowance method. (Note: First record the increase in the receivable on July 11 when the discount period passed.)

Prepare all necessary entries in general journal form for Garfield Corp