Choose the correct statement(s) below regarding the transfer of financial assets such as receivables:

a. in a transfer of receivables without recourse, the transferee obtains the right to compensation from the transferor for customer accounts that prove to be uncollectible.
b. in a transfer which qualifies as a secured borrowing, the transferor will record a liability for the amount borrowed.
c. under otherwise identical conditions, a transferor will generally pay a higher commission percentage on a receivable sold with recourse versus one sold without recourse.