The company pays for 80% of inventory purchases in the month of the purchase and 20% of inventory purchases in the month following the purchase. Otherwise, it pays for all selling and administrative costs in the month incurred. The company's customers pay for all products in the month they are purchased. The company had cash of $22,000, equipment of $36,000 and zero accounts payable on April 1st. Flag this Question Question 12 pts What amount of cash would appear in the company's balance sheet budget for May?

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