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$ 4 0 , 0 0 0 expense and $ 4 0 , 0 0 0 liability for the CEO s 2 0 2 4
$ expense and $ liability for the CEOs bonus. Lamy paid $ to the CEO on March and the remaining $ on May Lamy and the CEO are not related parties. Determine how much of the accrued expense is deductible on Lamys federal tax return.
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Survey of Accounting
Authors: Carl S Warren
5th Edition
9780538489737, 538749091, 538489731, 978-0538749091
