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Exercise 6-27 (Algorithmic) (LO. 2) Falcon, Inc., paid salaries of $628,000 to its employees during its first year of operations. At the end of the
Exercise 6-27 (Algorithmic) (LO. 2) Falcon, Inc., paid salaries of $628,000 to its employees during its first year of operations. At the end of the year, Falcon had additional unpaid salaries of $62,800. a. Calculate the salary deduction if Falcon is a cash basis taxpayer. b. Calculate the salary deduction if Falcon is an accrual basis taxpayer. 69 $
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