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| Esmond Bank approves a 10-year loan to Matt Schweitzer. In doing so, Esmond Bank incurs $2,000 of loan origination costs (attorney fees, title insurance, wages of employees’ direct work on loan origination). The loan origination fees shall be A. Reported as service fee income. B. Recognized as revenue when the loan is granted. C. Deferred and recognized over the life of the loan as an adjustment of yield (interest income). D. Deferred and recognized upon final payment of the loan. |