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On December 1, Year 4, Michaels, a selfemployed cashbasis taxpayer, borrowed $100,000 to use in her business. The loan was to be repaid on November
On December 1, Year 4, Michaels, a selfemployed cashbasis taxpayer, borrowed $100,000 to use in her business. The loan was to be repaid on November 30, Year 5. Michaels paid the entire interest of $12,000 on December 31, Year 4
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Management Accounting Information for Decision-Making and Strategy Execution
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
6th Edition
137024975, 978-0137024971
