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17. Chico's Tacos transferred $60,000 of accounts receivable to El Paso Bank. The transfer was made without recourse. El Paso Bank remits 90% of the factored amount to Chico's and El Paso Bank retains 10%, when the bank collects the receivables, it will remit to Chico's the retained amount (which Chico's estimates has a fair value of $7,000) less a 3% fee (3% of the total accounts receivable factored). At what amount should Chico's record the receivable from El Paso Bank? A. $7,000 B. S5,200 C. $3,800 D. $1,800 E. None of the above 18. On November 10th of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses the gross method of accounting for cash discounts. What is the correet entry for Flores on November 17th, assumin g the correct payment was received on that date? A. Cash B. Cash 7,840 Accounts receivable 7,840 7,840 160 Sales discounts Accounts receivable 8,000 C. Cash Sales 7,840 160 Accounts receivable 8,000 8,000 160 D. Cash Sales discounts Accounts receivable Sales 8,000 160