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step by step solution Oriole Corporation factored, with recourse, $507000 of accounts receivable with Pronghorn Financing. The finance charge is 4%, and 6% was retained

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Oriole Corporation factored, with recourse, $507000 of accounts receivable with Pronghorn Financing. The finance charge is 4%, and 6% was retained to cover sales discounts, sales returns, and sales allowances. Oriole estimates the recourse obligation at $12100. What amount should Oriole report as a loss on sale of receivables

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