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Question
The beginning balance in the allowance for loan loss account for Synopsis Bank is $500 million. The banking firm charges $2 million for provision for loan losses. Synopsis Bank will report:
A. $502 million as adjusted allowance for loan losses.
B. $498 million as noninterest expense.
C. $2 million as allowance for loan losses.
D. $502 million as provision for loan loss expense.
E. $2 million as adjusted allowance for loan losses.
Answer
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Related questions
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