Janice, Inc. factors $8,000,000 of its accounts receivables with recourse for a finance charge of 4%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Janice, Inc. estimates the fair value of the recourse liability at $400,000. What would be recorded as a gain (loss) on the transfer of receivables? Loss of 8720,000 Gain of $1,200,000 Loss of $368,000 Gain of $400,000 Question 11 (1 point) Jason Inc factors $5,000,000 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 What would be the debit to cash in the journal entry to record this transaction for Janon, Inc.? 5,000,000 4,600,000 O 00 144 * pits delete hrome A & - 5 6 7 8 8 9 O backspace tum lock