A bank has a balance sheet as shown below. At the beginning of the month, the bank

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A bank has a balance sheet as shown below. At the beginning of the month, the bank has $15,141,000 in its loan portfolio and $183,000 in the allowance for loan losses. During the month, management estimates that an additional $5,200 of loans will not be paid as promised. After another month, management feels there is no chance of recovering the loan and writes the $5,200 loan off its books.

Assuming no other changes, show the bank’s balance sheet at the end of Month 1 and Month 2. (LG 12-4)

LO.1

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