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 recelvable to Sarasota with recturse. Bridgeport's controlier 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%. Calculate the ret proceeds and the gain or loss on the disposal of receivables to Sarasota Financing Ltd. Net proceeds on disposal of receivables