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Geary Co. assigned 400,000 of accounts receivable to Kwik. Finance Co. as security for a loan of 335.000. Kwik charged a 2% commission on the

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Geary Co. assigned 400,000 of accounts receivable to Kwik. Finance Co. as security for a loan of 335.000. Kwik charged a 2% commission on the amount of the loan; the interest rate on the note was 10%. During the first month, Geary collected 110,000 on assigned accounts after deducting 380 of discounts. Geary accepted returns worth 1,350 and wrote off assigned accounts totaling 2,980. The amount of cash Geary received from Kwik at the time of the transfer was: A. $328,300. B. $301,500. c$327,000. D. $335,000

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