D. On July 1, 2020, LEBRON LTD.. assigns P 800,000 of its accounts receivable to METROBANK as collateral for a P 500,000 loan that is due October 1, 2020. The assignment agreement calls for LEBRON to continue to collect the receivables. METRO assesses a finance fee of 3.5% of the accounts receivable, and interest on the loan is 7.5%, a realistic rate for a note of this type and risk. Required: a. Assuming the transaction does not qualify as a sale, prepare the July 1, 2020 journal entry for LEBRON b. Prepare the journal entry for LEBRON's collection of P 750,000 of the accounts receivable during the period July 1 to September 30, 2020. c. On October 1, 2020, LEBRON paid METROBANK the entire amount that was due on the loan. c. Explain if management would prefer the transaction to be reported as a sale of receivables or a secured borrowing and why.