Essay
Sandy is the owner of ABC Loan Company.On June 2,2013,ABC loaned Randy $80,000.In 2014,Randy filed for bankruptcy.At that time,the bankruptcy court indicated that Randy's creditors could expect to receive 30 cents on the dollar.In August,2015 final settlement was made,and ABC received $20,000.ABC's policy is to deduct losses as soon as permitted.How much loss can ABC deduct and in which year?
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