Lincraft Corp. reports a current ratio of $3-$to$-1$ in its $202$ financial statements. The statement of financial position shows current assets of $$3,125,500$ and current liabilities of $$1,049,100.$ Lincraft has accounts recelvable of $$1,279,300.$ The company transfers $$982,000$ of these accounts recelvable to a financial institution. There are $$34,200$ of bad debts associated with these accounts receivable, an amount that is already in the allowance for doubtful accounts. Proceeds of $$892,750$ are recelved from the transfer. The transfer is on a non$-$notification basis, which means that the customers pay Lincraft and Lincraft then remit the cash to the financial institution. The customers pay $$940,000$ to Lincraft on schedule, $$34,200$ is written off to the allowance at the appropriate time, and the cash remittance is forwarded to the financial institution.

Required:

Record all journal entries for the sequence of events assuming:

a$.$ The transfer is recorded as a borrowing.

i fill the table,but it says that the table is wrong. can explain why the table is wrong