On February 1, 2020, Vaughn Manufacturing factored receivables with a carrying amount of $735000 to Cullumber Company. Cullumber Company assesses a finance charge of 2% of the receivables and retains 4% of the receivables. Relative to this transaction, you are to determine the amount of loss on sale to be reported in the income statement of Vaughn Manufacturing for February Assume that Vaughn factors the receivables on a without recourse basis. The loss to be reported is $29400. O $14700. O $0. $44100