When incorporating Spotfree, a cleaning company, Jayne transferred accounts receivable (fair market value $20,000 and $0 tax basis) and $12,000 of accounts payable from her cash-method sole proprietorship to Spotfree in exchange for Spotfree stock valued at $8,000. Assume the transfer qualifies under 351. Note: Leave no answer blank. Enter zero if applicable.

a. What is the amount of the gain Jayne must recognize on the exchange and its character?