Carter Company needed operating cash. On March 1, the company assigned $300,000 of accounts receivable to Local Bank for a $260,000 loan at 9%. Local Bank charged a fee of $12,300. By the end of March, Carter collected $190,000 of the assigned receivables. On April 1, Carter remitted (paid) from these funds principle plus interest to Local Bank. There were no sales returns or discounts for the March collections. Prepare the journal entries for Carter Company for the above transactions. March 1: Debit Credit Debit Credit During March