Preparing Entries for a Secured Borrewing and Subsequent Collections and Payments to the fincoce charges, with the remainder applied to principal additional finance charce of 5500 . Required 7. Recerd the entry for Sterline to mecord the secured borrowine During the second month, the remaining receivables were collected in full, except for $1,600 written off as uncollectible. Final settlemen additional finance charge of $600. Required a. Record the entry for Sterling to record the secured borrowing. payment to Miami