Mountain high ice cream company transferred $60,000 of accounts receivable to the prudential bank. the transfer was made with recourse. prudential remits 90% of the factored amount to mountain high and retains 10% to cover sales returns and allowances. when the bank collects the receivables, it will remit to mountain high the retained amount (which mountain estimates has a fair value of $5,000). mountain high anticipates a $3,000 recourse obligation. the bank charges a 2% fee (2% of $60,000), and requires that amount to be paid at the start of the factoring arrangement.