104. On February 1, 2017, ABC Corporation factored receivables with a carrying amount of P2,000,000, to DEF Corporation. ABC Corporation assesses a finance charge of 3% of the receivable and retains 5% of the receivables.

If factoring is treated as a sale, what amount of loss from the sale should the company report in its 2017 Statement of Comprehensive Income for the year 2017?

• P160,000
• P60,000
• Answer not given
• P0
• P100,000