16-23 Puce is corporation that buys and sells financial assets. It purchases notes receivable from manufactures that need cash immediately and cannot wait to collect the notes. Puce pays about 88% of the face value of the receivables and then collects them. Because of the quality of the notes, Puce collected less than it paid for some of the notes. Does Puce have a capital loss when it collects the receivables for less than it paid for them? Explain.