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On January 1January 1 of the current year, ScottScott borrows $ 80 comma 000$80,000, pledging the assets of his business as collateral. He immediately deposits

On

January 1January 1

of the current year,

ScottScott

borrows

$ 80 comma 000$80,000,

pledging the assets of his business as collateral. He immediately deposits the money in an interest-bearing checking account.

ScottScott

already had

$ 20 comma 000$20,000

in this account. On

April 1April 1,

ScottScott

invests

$ 75 comma 000$75,000

in a limited real estate partnership. On

July 1July 1,

he buys a new ski boat for

$ 12 comma 000$12,000.

On

August 1August 1,

he makes a

$ 10 comma 000$10,000

capital contribution to his unincorporated business.

ScottScott

repays

$ 50 comma 000$50,000

of the loan on

November 30November 30

of the current yea

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