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MF lent $5,000 to Amit on January 01, 2020. (For simplicity, we assume there is no interest.) At the time of loan issuance, MF estimated that $500 of loans receivable would probably be uncollectible, based on their knowledge of historical credit losses.

Respuesta :

From the information given regarding the loan, the amount that will be expected is $4500.

What is an uncollectible loan?

It should be noted that an uncollectible loan or account uncollectible are the receivables or loans that have no chance of being paid.

From the question, the amount lent is $5000 and the uncollectible is $500. Therefore, the amount that will be expected to be collected will be:

= $5000 - $500.

= $4500

In conclusion, $4500 will be expected.

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