QUESTIONS In January of your o, sin paid $5,800 for an insurance policy that covers his business property for accidents and casualties. Justin is a calendar year taxpayer who uses the cash method of accounting. The policy begins on February 1 year and extends through January 31 of your 2. What amount of the insurance premium may Justin deduct in year ? 3464 QUESTIONS In January of year , Justin paid $8,000 for an insurance policy that covers his business property for accidents and casualties Justin is a calendar year taxpayer who uses the cash method of accounting. Assume the insurance policy is for a 24-month period from April 1 year through March 31, year 2. What amount of the insurance premium may Justin deduct in year 07 3979 QUESTION 10 In October of year 0, Janine received a $2,500 payment from a client for 25 months of security Services she will provide starting on November 1 of year 0. This amounts to $100 per month. What amount of revenue must Janine recognize in year from the $2,500 advance payment for services if she uses the cash method of accounting? QUESTION 11 In October of year , Janine received a $2.500 payment from a client for 25 months of security services she will provide starting on November 1 of year. This amounts to $100 per month What amount of revenue must Janine recognize in year 1 from the $2,500 advance payment for services if she uses the accrual method of accounting