Jack’s Snow Removal Company received a cash advance of $14,700 on December 1, Year 1 to provide services during the months of December, January, and February. The year-end adjustment on December 31, Year 1, to recognize the partial expiration of the contract will

a. increase liabilities by $4,900
b. increase assets by $4,900
c. increase assets by $4,900 and increase equity by $4,900
d. increase equity by $4,900

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

Two trends that i’ve noticed are the following: lifestyle trend of many people seeking fitnessgenerates a business opportunity of opening a gym. another trend is entertainment; popmusic is very popular which generates a business opportunity for record producers lookingto produce music that will sell