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#3 Required information [The following information applies to the questions displayed below] Rebecca is a calendar-year taxpayer who operates a business. She made the following
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Required information [The following information applies to the questions displayed below] Rebecca is a calendar-year taxpayer who operates a business. She made the following business-related expenditures in December of this year. Indicate the amount of these payments that she may deduct this year under both the cash method of accounting and the accrual method of accounting. Note: Leave no onswers blank. Enter zero if applicable. a. S1,400 for an accountant to evaluate the accounting system of Rebecca's business. The accountant spent three weeks in January of next year working on the evaluation. b. $5,600 for new office furniture. The furniture was delivered on July 15 of next year. c. $5,400 for property taxes payable on her factory. d. $4,480 for interest on a short-term bank Ioan relating to the period from September 1 of this year, through March 31 of next yearStep by Step Solution
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