View Policies Current Attempt in Progress On February 1, 2020. Concord Corporation factored receivables with a carrying amount of $705000 to Ivanhoe Company. Ivanhoe Company assesses a finance charge of 4% of the receivables and retains 6% 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 Concord Corporation for February Assume that Concord factors the receivables on a with recourse basis. The recourse obligation has a fair value of $3500. The loss to be reported is $31700 $74000 $28200 $42300 Attempts: 0 of 1 used Save for Later Submit Answer Send to Gradebook