Question 5 of 10 View Policies Current Attempt in Progress On April 1, 2020, Whispering Company assigns $519,300 of its accounts receivable to the Third National Bank as collateral for a $345,600 loan due July 1, 2020. The assignment agreement calls for Whispering to continue to collect the receivables. Third National Bank assesses a finance charge of 3% of the accounts receivable and interest on the loan is 10% (a realistic rate of interest for a note of this type) Prepare the April 1, 2020, Journal entry for Whispering Company. (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 Apr 1 2020 e Textbook and Media List of Accounts Prepare the journal entry for Whispering's collection of $366,400 of the accounts receivable during the period from April 1. 2020, through June 30, 2020. (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.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts On July 1, 2020, Whispering paid Third National all that was due from the loan it secured on April 1, 2020. Prepare the journal entry to record this payment. (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 July 1. 2020 cTextbook and Media List of Accounts