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Golden Gate ICl cream transferrad $ 6 6 , 0 0 0 of Accounts Recievable to Regency Bank, Transfer was made Without recourse, Regency remits

Golden Gate ICl cream transferrad $66,000 of Accounts Recievable to Regency Bank, Transfer was made Without recourse, Regency remits 906 of the factored amount to Golden Gate and retains 10%, when the bank collects the recievables, it will remit to Golden Gate the retained amouns (which Golden Gate estimates has a fair value of 5,100.
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