pls provide a solution and an explanation, it would be a big help for me!

Problem 8-19 (AICPA Adapted) Zeus Company factored P6,000,000 of accounts receivable to a finance entity at the beginning of current year, Control was surrendered by Zeus Company. The factor accepted the accounts receivable subject to recourse for nonpayment. The fair value of the recourse obligation is P100,000. The factor assessed a fee of 3% and retained a holdback equal to 5% of the accounts receivable. In addition, the factor charged 15% interest computed on a weighted average time to maturity of the accounts receivable of 54 days. 1. What amount of cash was initially received from the factoring? a. 5,296,850 b. 5,386,850 c. 5,476,850 d. 5,556,850 2. If all accounts are collected, what amount should be recognized as loss on factoring the accounts receivable? a. 313,150 b. 180,000 c. 433,150 d. 613,150 3. If all accounts are not collected, what amount should be recognized as loss on factoring? a. 713,150 b. 100,000 c. 413,150 d. 313, 150