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E. During 2020, the company expensed $26,000 of entertainment for book purposes. F. On December 22, 2020, the company entered into a binding contract to

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E. During 2020, the company expensed $26,000 of entertainment for book purposes. F. On December 22, 2020, the company entered into a binding contract to purchase a one-year supply of heating oil at the current market price of $30,000 and accrued the liability for book purposes. The company paid the bill in January 2021. The local distributor delivers a month's supply on the 15 of each month during 2021. Likewise, in 2019, the company signed a contract and accrued the book liability in December for one-year of heating oil for $42,000. The company paid the bill in January 2020. During 2020, deliveries were also made on the 15th of cach month. G. The company accrued a $33,500 state income tax liability for tax year 2019 on its December 31, 2019 balance sheet and a $55,500 state income tax liability for tax year 2020 on its December 31, 2020 balance sheet. The following state income tax payments were made during 2020: March 15 2019 Balance Due $33,500 April 12 1" Estimated Tax Payment $45,000 June 15 2nd Estimated Tax Payment $45,000 September 3 3 Estimated Tax Payment $45,000 December 7 4 Estimated Tax Payment $45,000 The $55,500 accrued state income tax liability for tax year 2020 is paid on February 15, 2021. MacBook Air E. During 2020, the company expensed $26,000 of entertainment for book purposes. F. On December 22, 2020, the company entered into a binding contract to purchase a one-year supply of heating oil at the current market price of $30,000 and accrued the liability for book purposes. The company paid the bill in January 2021. The local distributor delivers a month's supply on the 15 of each month during 2021. Likewise, in 2019, the company signed a contract and accrued the book liability in December for one-year of heating oil for $42,000. The company paid the bill in January 2020. During 2020, deliveries were also made on the 15th of cach month. G. The company accrued a $33,500 state income tax liability for tax year 2019 on its December 31, 2019 balance sheet and a $55,500 state income tax liability for tax year 2020 on its December 31, 2020 balance sheet. The following state income tax payments were made during 2020: March 15 2019 Balance Due $33,500 April 12 1" Estimated Tax Payment $45,000 June 15 2nd Estimated Tax Payment $45,000 September 3 3 Estimated Tax Payment $45,000 December 7 4 Estimated Tax Payment $45,000 The $55,500 accrued state income tax liability for tax year 2020 is paid on February 15, 2021. MacBook Air

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