I NEED ANSWER NOW PLEASE

Grateful Company provided the following transactions: July 1 The entity assigned P500,000 of accounts receivable to its bank on a nonnotification basis in consideration for a loan. On this date, the bank advanced P400,000 less a service charge of 2% of the total accounts assigned, and the entity signed a promissory note bearing interest of 1% per month on the unpaid loan balance at the beginning of the month. Aug. 1 Collected P330,000 on assigned accounts. The entity remitted this amount to the bank in payment first for the interest and the balance to the principal. Sept. 1 Collected the remaining balance of assigned accounts. The entity paid off the remaining loan balance. Required: Prepare journal entries to record the transactions. 239