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An accrual basis, calendar year corporation, accrued $75,000 of wage and salary expense at the end of the year. $25,000 was paid in January and
An accrual basis, calendar year corporation, accrued $75,000 of wage and salary expense at the end of the year. $25,000 was paid in January and $50,000 in April of the following year. How much of the wage expense is deductible in the current year?
Group of answer choices
$0
$25,000
$50,000
$75,000
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