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Swifty Corporation assigns $5100000 of its accounts receivables as collateral for a $2.34 million 7% loan with a bank. Swifty Corporation also pays a
Swifty Corporation assigns $5100000 of its accounts receivables as collateral for a $2.34 million 7% loan with a bank. Swifty Corporation also pays a finance fee of 1% on the transaction upfront. What would be recorded as a gain (loss) on the transfer of receivables? $0. O Loss of $408000 O Loss of $51000. O Loss of $357000.
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