Oriole Company factors $$330000$ of accounts receivable with Sheffield Factors Inc. on a without recourse basis. The receivables records are transferred to Sheffield Factors, which takes over full responsibility for collections. Sheffield assesses a finance charge of $5\%$ and withholds an initial amount equal to $8\%$ of the accounts receivable for returns and allowances.

The loss on disposal of receivables recorded by Oriole is

$$26400$

$$0$

$$16500$

$$42900$

Explain how you got the answer please