Moon Inc. factors $3,000,000 of its accounts receivables WITHOUT recourse for a finance charge of 4%. The finance company retains an amount equal to 8% of the accountsreceivable for possible adjustments. Moon estimates the fair value of the recourse liabilityat $300,000. What would be the debit to Cash in the journal entry to record thistransaction?
a. 3,000,000
B. 2,880,000
C. 2,640,000
D. 2,340,000