Current Attempt in Progress The controller for Ayayai Corporation has reached an agreement with Whispering Winds Financing Ltd. to sell a large portion of Ayayai's past-due accounts receivable. Ayayai agrees to sell $1,800,000 of accounts receivable to Whispering Winds without recourse. Ayayai's controller estimates that the fair value of uncollectible accounts is $161,000. Whispering Winds will charge Ayayai 7% of the total receivables balance as a financing fee, and will withhold an initial amount of 8%. The transaction is treated as a sale. (a) Calculate the net proceeds and the gain or loss on the disposal of receivables to Whispering Winds Financing Ltd. Net proceeds on disposal of receivables 5 $ eTextbook and Media List of Accounts Attempts: 0 of 1 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. Current Attempt in Progress The controller for Ayayai Corporation has reached an agreement with Whispering Winds Financing Ltd. to sell a large portion of Ayayai's past-due accounts receivable. Ayayai agrees to sell $1,800,000 of accounts receivable to Whispering Winds without recourse. Ayayai's controller estimates that the fair value of uncollectible accounts is $161,000. Whispering Winds will charge Ayayai 7% of the total receivables balance as a financing fee, and will withhold an initial amount of 8%. The transaction is treated as a sale. (a) Calculate the net proceeds and the gain or loss on the disposal of receivables to Whispering Winds Financing Ltd. Net proceeds on disposal of receivables 5 $ eTextbook and Media List of Accounts Attempts: 0 of 1 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above