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r-ruslan [8.4K]
1 year ago
14

After much searching, Mort located an old banking friend of his father's. The banker offered Mort up to $25,000 in unsecured fun

ds, which Mort's firm could borrow any time within a year, as long as the bank has the money available. Mort was offered a(n)
Business
1 answer:
VladimirAG [237]1 year ago
4 0

Here, in the given case, Mort was offered a <u>line of credit </u>financial facility. Therefore, Option D is the correct choice.

<h3>What is a line of credit?</h3>

A line of credit is a versatile mortgage from a monetary group that includes a described amount of cash that you could access as needed and pay off both right now or over time. Interest is charged on a line of credit as quickly as money is borrowed.

The missing information in the question is given below:

A. revolving credit agreement.

B. asset guarantee pledge.

C. pledging agreement.

D. line of credit.

Therefore, Here, in the given case, Mort was offered a<u> line of credit </u>financial facility. Therefore, Option D is the correct choice.

Learn more about line of credit:

brainly.com/question/27126499

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The journal entries are shown below:

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A. 3 business days

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Read 2 more answers
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