E. Using the data in letter D, assume that BRITAIN assigned the accounts receivable in exchange for a bank loan. The assignee bank will loan 80% of the amount of the receivables and will charge 12% interest. Bank service charge is 1% of the loaned amount. After a month, accounts of P2,000,000 were collected less P20,000 sales discount. Accounts of P24,500 were written-off. equired: Journal entries for 2023 assume that the assignment was made under (a) non-notification; nd (b) notification basis