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Loan balance is $200,000. It is 130 days past due and customer is giving house back to the bank by deed in lieu of
Loan balance is $200,000. It is 130 days past due and customer is giving house back to the bank by deed in lieu of foreclosure. The house is has a recent appraisal indicating a value of $175,000. On the day the deed is executed, what entries would the bank make?
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
14th edition
130565353X, 978-1305887510, 1305887514, 978-1305653535
