Bonita Industries factors 5500000 of its accounts

Last updated: 4/8/2024

Bonita Industries factors 5500000 of its accounts receivables without recourse for a finance charge of 6 The finance company retains an amount equal to 9 of the accounts receivable for possible adjustments What would be recorded as a gain loss on the transfer of receivables O Loss of 330000 O Loss of 1071000 O Gain of 576000 O Loss of 246000