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Check my word On January 1, 20X2, Mr. X loaned an entrepreneur $25,000 at 5% annual interest. Mr.X also incurred loan registration fees of $750
Check my word On January 1, 20X2, Mr. X loaned an entrepreneur $25,000 at 5% annual interest. Mr.X also incurred loan registration fees of $750 in 2005, Mr.X setup a reserve for unpaid interest of $3,000 as he not received any interest or principal repayments due to financial hardships of the entrepreneur. How much of these expenses can Mr. x deduct in 20X5? Multiple Choice $1250
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