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6. On May 1, 2022, Tony Lama Boots sells 7,000 boots to Starr Western Wear in exchange for a sixmonth, $750,000 noninterest-bearing note. The boots each have a normal selling price of $100. When Tony Lama records the May 1s sale in its books, for what amount will it credit sales revenue? 7. Chico's Tacos transferred $75,000 of accounts receivable to El Paso Bank. The transfer was made without recourse. EI Paso Bank remits 90% of the factored amount to Chico's and EI Paso Bank retains 10%. When the bank collects the receivables, it will remit to Chico's the retained amount (which Chico's estimates has a fair value of $7,000) less a 3% fee (3\% of the total accounts receivable factored). At what amount should Chico's record the receivable from El Paso Bank? A/RA.$2,250.B.$3,800.C.$4,750cashfec67,5002,250 C. $4,750