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Marigold Corp. assigns $6600000 of its accounts receivables as collateral for a $2.66 million 9% loan with a bank. Marigold Corp. also pays a finance
Marigold Corp. assigns $6600000 of its accounts receivables as collateral for a $2.66 million 9% loan with a bank. Marigold Corp. also pays a finance fee of 1% on the transaction upfront. What would be recorded as a gain (loss) on the transfer of receivables?
$0.
Loss of $594000.
Loss of $66000.
Loss of $660000.
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