"8. On September 1, 2018, Mason Company borrowed $300,000 at 10% interest and pledged $400,000 in accounts receivables as collateral. Additionally, Mason was charged a finance fee equal to 1% of the accounts receivable assigned. At the end of December, $200,000 of the assigned receivables were collected and remitted to the lender along with accrued interest. Prepare journal entries to record the borrowing, the assignment of receivables, the collection on the receivables , and the recognition of interest expense. "