Over the year, the loss allowance of a portfolio of loans of Lune SA moves from 50,000 to 65,000. During the year, loans were written off for 20,000, charged against the loss allowance. Calculate the impairment expense for the year.
- Opening loss allowance
- 50,000
- Closing loss allowance
- 65,000
- Write-offs charged against the loss allowance
- 20,000