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Jorgensen High Tech Incorporated is a calendar-year, accrual-method taxpayer. At the end of year 1, Jorgensen accrued and deducted the following bonuses for certain employees
Jorgensen High Tech Incorporated is a calendar-year, accrual-method taxpayer. At the end of year 1, Jorgensen accrued and deducted the following bonuses for certain employees for financial accounting purposes. . $69,600 for Ken. $52,200 for Jayne. $34,800 for Jill. $17,400 for Justin. How much of the accrued bonuses can Jorgensen deduct in year 1 under the following alternative scenarios? (Leave no answer blank. Enter zero if applicable.) Problem 12-24 Part a (Algo) a. Jorgensen paid the bonuses to the employees on March 1 of year 2. Answer is complete but not entirely correct. Deductible accrued bonuses Year 1 $ 189,000
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