ASAP ...... don't copy-paste... I will give a downvote ...

Yolo Corporation experienced financial difficulty in 2020. It decided to go into note receivable discounting to be able to ease some of its financing problems. During 2020, the following transactions relating to it transpired:

May 1 Discounted at the bank a 4-month, 10% interest-bearing note receivable from a customer dated February 1, 2020, P400,000. The discount rate was 12%.

June 1 Bank informed Yolo that the 4-month note was honored and paid by its issuer. June 30 Discounted at the bank an 8-month, non-interest bearing note receivable from a customer dated January 1, 2020, P200,000. The discount rate was 15% on August 1 Discounted at the bank a 180-day, 12% interest-bearing note receivable dated June 15, 2020, P300,000. The discount rate was 15%.

September 5 The bank informed Yolo that the 8-month note was in default. The full maturity value and protest fee of P5,000 were paid by Yolo the next day.

December 1 The customer paid the maturity value of the 8-month note, protest fee, and 10% interest on the full amount paid by Yolo to the bank from the date of default,

Prepare the journal entries under the following separate assumptions:

a. Discounting was considered as without recourse

b. Discounting was considered a conditional sale

c. Discounting was considered a secured borrowing.