The ballentine company expects sales for june, july, and august of $48,000, $54,000, and $44,000, respectively. experience suggests that 40% of sales are for cash and 60% are on credit. the company collects 50% of its credit sales in the month following sale, 45% in the second month following sale, and 5% are not collected. what are the company's expected cash receipts for august from its current and past sales?

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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