Joe Novak Corporation sold accounts receivables to Huskie Financing without recourse. If the sale of receivables had been with recourse, Joe Novak Corporation would have estimated a recourse obligation equal to 8% of receivables, and its net income would have been $8,400 less. If the tax rate for Joe Novak Corporation is 30%, how much receivables were sold?

A. $100,000

B. $120,000

C. $130,000

D. $150,000