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Summer Love Inc. factors $600,000 of her accounts receivables with recourse for a finance charge of 1%. There is an estimated 2% of the accounts

Summer Love Inc. factors $600,000 of her accounts receivables with recourse for a finance charge of 1%. There is an estimated 2% of the accounts receivable for possible sales discounts and 1% for possible bad debt. What would Summer Love Inc. collect in cash the day that the accounts receivables are factored?

A.$600,000

B.$594,000

C.$576,000

D.$495,000

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