On October 1, 2020, Blue, Inc. assigns $1,144,300 of its accounts receivable to Kingbird National Bank as collateral for a $733,100 note. The bank assesses a finance charge of 4% of the receivables assigned and interest on the note of 10%, Prepare the October 1 journal entries for both Blue and Kingbird. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Blus. Ins. Oct. 1 Kingbird National Bank Oct 1