Recorded as a gain on the transfer of receivables

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Intel Inc. factors $3,000,000 of its accounts receivables without recourse for a finance charge of 5%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Intel estimates the fair value of the recourse liability at $215,000. What would be recorded as a gain (loss) on the transfer of receivables?

Reference no: EM132420918

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