Wraith Inc. factored without recourse its accounts receivable amounting to P100,000. Wraith received P82,000 as cash advance from the bank and the bank withheld 3,000 as contingency for uncollectible...

How much is the loss on factoring from the transaction? *

Zero

10,000

15,000

20,000

Extracted text: Wraith Inc. factored without recourse its accounts receivable amounting to P100,000. Wraith received P82,000 as cash advance from the bank and the bank withheld 3,000 as contingency for uncollectible accounts. The bank charged Wraith P15,000 as finance service fee for factoring. How much is the loss on factoring from the transaction?