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Tamara Co, assigned $800,000 of accounts receivable to Rayan Finance Co. as security for a loan of $670,000. Rayan charged a 2% commission on the

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Tamara Co, assigned $800,000 of accounts receivable to Rayan Finance Co. as security for a loan of $670,000. Rayan charged a 2% commission on the amount of the loan, the interest rate on the note was 10%. During the first month, Tamara collected $220,000 on assigned accounts after deducting $760 of discounts. Tamara accepted returns worth $2,700 and wrote off assigned accounts totaling $5,960. 8. The amount of cash Tamara received from Rayan at the time of the transfer was

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