After noting that its receivables turnover ratio had declined, Imperative Company decided for the first time in the company's history to sell $$500,000$ of receivables to a factoring company. The factor charges a factoring fee of $3$ percent of the receivables sold.

Required:

$1$&$2.$ How much cash does Imperative receive on the sale? Calculate the factoring fee.

$3.$ How is the factoring fee reported by Imperative Company?

$4.$ All else equal, how will this affect Imperative's receivables turnover ratio in the future?