Trell Corporation transferred $61,000 of accounts receivable to a local bank. The transfer was made without recourse. The local bank remits 60% of the factored amount to Trell and retains the remaining 40%. When the bank collects the receivables, it will remit to Trell the retained amount less a fee equal to 1% of the total amount factored. Trell estimates a fair value of its 15% interest in the receivables of $13,500 (not including the 1% fee). Trell will show an amount receivable from factor of:

Multiple Choice

• $23,790.

• $13,500.

• $24,400.

• $12,890.