On April 1, 2020, Martinez Company assigns $525,800 of its accounts receivable to the Third National Bank as collateral for a $342,800 loan due July 1, 2020. The assignment agreement calls for Martinez to continue to collect the receivables. Third National Bank assesses a finance charge of 2% of the accounts receivable, and interest on the loan is 10% (a realistic rate of interest for a note of this type).