As of December 31, $2,500 of interest expense has accrued on a $50,000 note payable. The note payable and the accrued interest will become due and payable next year. How will the interest affect the adjustments at the end of the period?a. Interest Expense does not affect this period since it will not be paid. The expense will be recorded when the note and interest are paid in full. b.Interest Expense should be increased, because the cost of interest relates to the current period. c.Note Payable should be increased to reflect the additional interest that will be due when the note is paid off next year. d.Interest Receivable should be increased to reflect the accrued interest on the note payable

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

The decision i made was if i should ask my friend a question that might hurt her but i still made it a good decision