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Company assign 56

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Company assign 56.000.000 of its accounts receivables as collateral for a 54,000.000, 8x loan with a DELTA BANK *X Company also pays a finance charge of 3% of the account receivabilon be the entry to 5,830,000 50,000 Interestepenses Due trom Bank Notes payable 60.000 6.000.000 Cash Interestepenses Notes payable 3.820.000 180.000 4 000 000 5,820 000 Cash Imeres expenses 180.000 Account receivable 6000.000 3,880 000 120 000 Notes payat 4 000 000