Exercise 7-15 On April 1, 2017, Larkspur Company assigns $501,500 of its accounts receivable to the Third National Bank as collateral for a $318,000 loan due July 1, 2017. The assignment agreement calls for Larkspur to continue to collect the receivables. Third National Bank assesses a finance charge of 4% 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 Larkspur Company. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanatien Credit Apr. 1, 2017 Cash Notes Payable 318000 Prepare the journal entry for Larkspur's collection of $376,000 of the accounts receivable during the period from April 1, 2017, through June 30, 2017. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Accounts Recelvable On July 1, 2017, Larkspur paid Third National all that was due from the loan it secured on April 1, 2017, Prepare the journal entry to record this payment. (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. Date Account Titles and Esplanatien Credit uly 1, 2017 Notes Payable Interest Expense Cash Click if you would like to Show Work for this question: Open Show Work