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Bramble Corp. factors $3100000 of its accounts receivables without recourse for a finance charge of 4%. The finance company retains an amount equal to 8%

Bramble Corp. factors $3100000 of its accounts receivables without recourse for a finance charge of 4%. The finance company retains an amount equal to 8% of the accounts receivable for possible adjustments. Bramble estimates the fair value of the recourse liability at $320000. What would be the debit to Cash in the journal entry to record this transaction?

$2408000.

$3100000.

$2976000.

$2728000.

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