Suppose a bank has an allowance for loan losses of $2.50 million at the beginning of the year, charges current income for a $450,000 provision
Suppose a bank has an allowance for loan losses of $2.50 million at the beginning of the year, charges current income for a $450,000 provision for loan losses, charges off worthless loans of $335,000, and recovers $275,000 on loans previously charged off. What will be the balance in the allowance for loan losses at year-end?
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Authors: Judith J. Baker, R.W. Baker
4th Edition
1284029867, 978-1284029864
