Testbank Question 54 Braun Company factors $300,000 of accounts receivable with Schick Factors Inc. on a without recourse basis. The receivables records are transferred to Schick Factors, which takes over full responsibility for collections. Schick assesses a finance charge of 4% and withholds an initial amount equal to 7% of the accounts receivable for returns and allowances. The cash paid by Schick Factors to Braun Company is $288,000. $279,000. $300,000. $267,000