Acompany using the perpetual inventory system purchased inventory worth $550,000 on account with credit terms of 2/15, n/45. defective inventory of $70,000 was returned 3 days later, and the accounts were appropriately adjusted. if the company paid the invoice 25 days later, the journal entry to record the payment would be

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

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Answer domestic violence;