The controller for Bridgeport Corporation has reached an agreement with Sarasota Financing Ltd$.$ to sell a large portion of

Bridgeport's past$-$due accounts receivable. Bridgeport agrees to sell $$1,830,000$ of accounts receivable to Sarasota with recourse.

Bridgeport's controller estimates that the fair value of Bridgeport's liability to pay Sarasota for uncollectible accounts is $$164,000.$

Sarasota will charge Bridgeport $7\%$ of the total receivables balance as a financing fee, and will withhold an initial amount of $8\%.$

$($a$)$

Your answer is partially correct.

Calculate the net proceeds and the gain or loss on the disposal of receivables to Sarasota Financing Ltd$.$

Net proceeds