On March 1, 2026 Pink Flamingo Corporation assigned $1,500,0…

On March 1, 2026 Pink Flamingo Corporation assigned $1,500,000 of receivables to Wisconsin State Bank as collateral for a $1,000,000 loan.  Wisconsin State Bank charged a fee equal to 2% of the receivables as well as a 8% annual interest rate.  The loan is due in 5 years. What journal entry should Pink Flamingo Corporation record on March 1, 2026?