Tont T! Paragraph 15 Use the following information for questions 4-5 On February 1, 2019. Jordan Company factored receivables with a carrying amount of $600,000 to Sharjah Company, Sharjah Company assesses a finance charge of 6% of the receivables and retains 5% of the receivables. Relative to this transaction, you are to determine the amount of loss on sale to be reported in the income statement of Jordan Company for February Assume that Jordan factors the receivables on a with recourse basis. Recourse obligations was $7,000. The amount of cash to be collected by Dubai from Sharjah is 4 I Assume that Jondan factors the recenbles on a without recourse basis. The loss to be reported is