Question: On april 1 , 2 0 2 5 , Nash company assigns 5 3 1 , 4 0 0 of its accounts receivable to the

On april 1,2025, Nash company assigns 531,400 of its accounts receivable to the trird national n=bank as collateral for a 313,600 loan due july 1,2025. The assignment agreement calls for nash to continue to collect the receivables. Third national bank assesses a finance charge of 4% of the accounts receivable, and intrest on the loan 10%(a realistic rate of intrest for a note of this type)

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