Accounts receivable in the amount of $$800,000$ were assigned to the Fast Finance Company by Coronado, Inc., as security for a loan of

$$720,000.$ The finance company assessed a $4\%$ finance charge on the face amount of the loan, and the note bears interest at $8\%$ per

year.

During the first month, Coronado collected $$420,000$ on assigned accounts. This amount was remitted to the finance company along

with one month's interest on the note.

Make all the entries for Coronado Inc. associated with the transfer of the accounts receivable, the loan, and the remittance to the

finance company. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. List

all debit entries before credit entries.$)$

Account Titles