Prev Next ) Question 1 /1 View Policies Current Attempt in Progress On October 1, 2020, Indigo, Inc. assigns $1,094,700 of its accounts receivable to Sweet National Bank as collateral for a $738,600 note. The bank assesses a finance charge of 3 % of the receivables assigned and interest on the note of 8% Prepare the October 1 journal entries for both Indigo and Sweet. (f no entry is required, select "No Entry for the account titles and enter O for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Indigo. Inc. Oct. 1 Sweet National Bank Oct. 1