Kanye West needs cash so he sells $100,000 of Accounts Receivable with recourse. He is charged a 5 percent commission by the factor and estimates the fair value of the recourse liability to equal...

Kanye West needs cash so he sells $100,000 of Accounts Receivable with recourse. He is charged a 5 percent commission by the factor and estimates the fair value of the recourse liability to equal $6,000. He receives $80,000 in cash on the day of the sale. What total expense does Kanye West record related to the sale?