On April $1,$ Time Co$.$ is considering three scenarios that accelerate the collection of outstanding accounts receivable totaling $$240,000$ : a secured borrowing, selling the receivables with recourse; and selling the receivables without recourse. Prepare all entries required for Time Co$.$ on April $1$ for these three separate scenarios.

Secured borrowing. The finance company will extend a loan equal to $75\%$ of the accounts receivable assigned. The finance company charges a finance fee of $1\mathrm{.}5\%$ of the accounts receivable balance and $9\%$ interest on the loan.

Sell accounts receivable without recourse. The finance company charges $8\%$ as a finance fee and withholds $15\%$ of the receivables for sales returns, allowances, and discounts. Time Co$.$ expects $1\%$ of the accounts receivable balance to be uncollectible.

Sell accounts receivable with recourse. The finance company charges $5\%$ as a finance fee and withholds $10\%$ of the receivables for sales returns, allowances, and discounts. Time Co$.$ expects $1\%$ of the accounts receivable balance to be uncollectible.

$\backslash$table$[[$Date$,$Account,Dr$.,$Cr$.],[1.$ Apr. $1,$Cash v$,0,0],[$Finance Expense $v,0,0],[,0,0],[$To record assignment of receivables,,$],[2.$ Apr. $1,\backslash 2v,0,0],[,0,0],[,0,0],[,0,0],[$To record sale of receivables without recourse,,$],[3.$ Apr. $1,1v,0,0],[-,0,0],[,0,0],[,0,0],[,0,0],[$To record sale of receivables with recourse,,$]]$