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UNO [17]
3 years ago
14

The difference between a secured loan and an unsecured loan is blank

Business
1 answer:
ella [17]3 years ago
4 0
A secured loan has claim on assets in case the lender defaults. For example, a home buyer takes out a loan (secured against the home) with a bank to buy home. If the home buyer can't make repayments (or even goes bankrupt), the bank can sell the home to recover their lost money.

An unsecured loan does not have claim on any assets. All else being equal, an unsecured loan has higher interest rate.
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lora16 [44]

Answer:

unearned service revenue 7,500 DEBIT

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the job is complete on July 31th

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the unearned revenue account is used first because the business has the obligation of perform the job or return the cash. So it is a liablity until the job is completed

7 0
4 years ago
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8 0
3 years ago
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Answer& Explanation:

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