PROBLEM CCC: MARS U,( Prepare journal entries for Mars Co. for: (a) Accounts receivable in the amount of $1,500,000 were assigned to Utley Finance Co. by Mars as security for a loan of$1,300,000. Utley charged a 3% commission on the accounts, the interest rate on the note is 12%. (b) During the first month, Mars collected $600,000 on assigned accounts after deducting $1,400 of discounts. Mars wrote off a $1,600 assigned account. (c) Mars paid to Utley the amount collected plus one month's interest on the