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Business, 28.01.2020 23:41 corrineikerd

Sun inc. factors $6,000,000 of its accounts receivables without recourse for a finance charge of 5%. the finance company retains an amount equal to 10% of the accounts receivable for possible adjustments.
what would be recorded as a gain (loss) on the transfer of receivables?

a. loss of $230,000.
b. loss of $1,130,000.
c. gain of $530,000.
d. loss of $300,000.

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Sun inc. factors $6,000,000 of its accounts receivables without recourse for a finance charge of 5%....
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