Problem 7-10 Shamrock Company finances some of its current operations by assigning accounts receivable to a finance company. On July 1, 2017, it assigned, under guarantee, specific accounts amounting to $270,000. The finance company advanced to Shamrock 80% of the accounts assigned (20% of the total to be withheld until the finance company has made its full recovery), less a finance charge of 0.40% of the total accounts assigned. On July 31, Shamrock Company received a statement that the finance company had collected $144,000 of these accounts and had made an additional charge of 0.40% of the total accounts outstanding as o July 31. This charge is to be deducted at the time or the first remittance due s amrock Company from the finance company in Ma e entries at his ime. O,August 3 Shamrock Company received a second statement from the finance company, together with a check for the amount due. The statement indicated that the finance company had collected an additional $90,000 and had made a further charge of 0.40% of the balance outstanding as of August 31 Make all entries on the books of Shamrock Company that are involved in the transactions above. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Date Account Titles and Explanation July 1 Credit (To record the collection of accounts) To record the interest) August 31