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RideAnS [48]
2 years ago
9

How is a loan obtained through a pawnshop typically paid off?

Business
1 answer:
Tems11 [23]2 years ago
3 0

Answer:

B. In a single payment, and the collateral is returned

<u>Multiple-choices</u>

A. In multiple payments, and collateral is retuned

B. In a single payment, and the collateral is returned.

C. The lender sells the item to pay off the interest.

D. The lender cashes a postdated check.

Explanation:

A pawn-loan is a credit facility based on collateral provided. Pawnshop issues pawn-loans without any credit history checking. The borrower presents an item of value, either jewelry, electronics, mobile gadgets, or other items resellable to other customers.

A pawnshop typically issues short term loans. The credit period is mostly 30 days. The borrower is should to repay the loan amount plus interest by end of month to redeem their collateral.  Due to the short credit period and the high risk of lending, pawnshops do not usually allow installment repayments.

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To start their own business, usually this supports their local economy however still depending on their success. 
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________ distribution is a product distribution strategy that involves stocking the products in as many outlets as possible.
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Answer:

The answer is intensive distribution strategy.

Explanation:

Intensive distribution strategy occurs when a company tries to sell their products through as many outlets as possible, thus ensuring that customers will encounter the company’s products in various distributor points. It is generally done to increase sales of products. Companies that would use this type of strategy are typically those that are competing in a perfect competition market, since product unavailability would just make customers of the product use a different brand from a competitor’s company instead.

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ason owns a small landscaping business called GreenScapes. When buying a new pickup truck for his landscaping business, Jason ne
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In the given case, Jason made a deal with dodge to provide service to him in exchange for service by him. Hence we can conclude that the given case depicts reciprocity.

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In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.1. Cervi
Fofino [41]

Answer:

The entry to record the sales transactions and related taxes for Quartz Company would be as follows:

                Debit         Credit

Cash        $23,100

Sales                             $22,000

Sales taxes                   $1,100

Cash      $13,780

Sales                        $13,000

Sales taxes                $780

Explanation:

In order to prepare the entry to record the sales transactions for Quartz Company we would have to make the following calculation:

According to the given data On April 10, the register totals are sales $22,000 and sales taxes $1,100, hence, cash=$22,000 +$1,100=$23,100

Therefore, the entry to record the sales transactions for Quartz Company would be as follows:

       

                  Debit         Credit

Cash        $23,100

Sales                             $22,000

Sales taxes                   $1,100

In April 15 the cash is $13,780, which includes a 6% sales tax, therefore, the sales would be calculated as follows:

sales=$13,780/6%

sales=$13,000

hence, sales taxes=$780

The entry to record the sales transactions and related taxes for Quartz Company would be as follows:

Cash      $13,780

Sales                        $13,000

Sales taxes                $780

5 0
3 years ago
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