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On October 1, 2025, Splish, Inc, assigns $1,197,900 of its accounts receivable to Blossom National Bank as collateral for a$747,700 note. The bank assesses a

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On October 1, 2025, Splish, Inc, assigns $1,197,900 of its accounts receivable to Blossom National Bank as collateral for a$747,700 note. The bank assesses a finance charge of 4% of the recelvables assigned and titerest on the note of 9% : Prepare the October 1 journal entries for both Solish and Blossom. of no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Credit accourz titles are automatically indented when the amount is entered. Do not indent manually, List all debit entries before credit entries)

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