Exercise 7-15 On April 1, 2017, Crane Company assigns $514,300 of its accounts receivable to the Third National Bank as collateral for a $304,800 loan due July 1, 2017. The assignment agreement calls for Crane to continue to collect the receivables. Third National Bank assesses a finance charge of 3% of the accounts receivable, and interest on the loan is 10% (a realistic rate of interest for a note of this type). Prepare the April 1, 2017, journal entry for Crane Company. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts, Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Apr 1, 2017