Question 8 (1 point) On 4/30 a company transfers $100,000 of accounts receivable to a local factor. The transfer is made with recourse. The factor immediately remits 85% of the factored amount to the company and retains 15% for probable adjustments. When the factor collects the receivables, it will remit to the company the retained amount. The factor also charges a 4% fee on the total factored amount, to be paid immediately. The company estimates the fair value of the recourse obligation to be $3,000. On 4/30, a loss is debited for...? $2,000 $3,000 $5,000 $7,000 O $15,000 $18,000 Question 9 (1 point) (continued from previous question) On 4/30, the balance in the Cash account... Increases by $85,000 Increases by $82,000 Decreases by $81,000 Decreases by $4,000 None of the above Question 10 (1 point) (continued from previous question) If the factoring arrangement had been without recourse... The entry to Cash would be the same The entry to Accounts Receivable would be the same The entry to Loss would be lower All of the above