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How do the all events and economic performance requirements apply to the following transactions by an accrual basis taxpayer? a. The company guarantees its products
How do the all events and economic performance requirements apply to the following transactions by an accrual basis taxpayer?
a. The company guarantees its products for six months. At the end of 2018, customers had made valid claims for $600,000 that were not paid until 2019. Also, the company estimates that another $400,000 in claims from 2018 sales will be filed and paid in 2019.
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