On january 1, five star services has the following balances: accounts receivable $ 28 comma 000 (debit) bad debts expense $ 0 five star services has the following transactions during january: credit sales of $ 140 comma 000, collections of credit sales of $ 90 comma 000, and writeminusoffs of $ 19 comma 000. five star services uses the direct writeminusoff method. at the end of january, the balance of accounts receivable is

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