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3. On August 1, Fallbrook Company assigned $200,000 of its accounts receivable to Household Bank as collateral for a $170,000 loan by issuing a note. Fallbrook will continue to collect the receivables. Household bank assesses a finance charge of 2% of the assigned accounts receivable, and charges 12% interest annually on the outstanding loan balance. By august 31, Fallbrook had collected $150,000 and remitted this amount plus the interest to date on August 31 to Household bank. Required: Prepare journal entries to record the above transaction on Fallbrook general journal