View Policies Show Attempt History Current Attempt In Progress Presented below is information for Sarasota Company 1 Beginning-of-the-year Accounts Receivable balance was $21.400. 2. Net sales (all on account) for the year were $103,800. Sarasota does not offer cash discounts. 3. Collections on accounts receivable during the year were 5 were $84,800. 0.5/1 E Sarasota is planning to factor some accounts receivable at the end of the year. Accounts totaling $12,800 will be transferred to Credit Factors, Inc. with recourse. Credit Factors will retain 6% of the balances for probable adjustments and assesses a finance charge of 5% The fair value of the recourse obligation is $1,101. (a)