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A firm factors $5,000 of Accounts Receivables without recourse at a fee of 4%. Non-collectible accounts are $500. The transfer is accounted for as a
A firm factors $5,000 of Accounts Receivables without recourse at a fee of 4%. Non-collectible accounts are $500. The transfer is accounted for as a sale. The loss to be recorded by the transfer is how much?
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