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Concord Corporation assigns $6700000 of its accounts receivables as collateral for a $1.85 million 9% loan with a bank. Concord Corporation also pays a finance
Concord Corporation assigns $6700000 of its accounts receivables as collateral for a $1.85 million 9% loan with a bank. Concord Corporation also pays a finance fee of 2% on the transaction upfront. What would be recorded as a gain (loss) on the transfer of receivables? Loss of 5737000 Loss of $603000 50. Loss of $134000
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