Question 12 On October 1, 2017, Martinez, Inc, assigns $1,169,300 of its accounts receivable to Sandhill National Bank as collateral for a $730,500 note. The bank assesses a finance charge of 2 % of the receivables assigned and interest on the note of 9%. Prepare the October 1 Journal entries for both Martinez and Sandhill. (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.) Credit Debit Date Account Titles and Explanation Martinez. Inc. Oct. 1 Sandhill National Bank Oct. 1