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Rebecca is a calendar-year taxpayer who operates a business. She made the following business-related expenditures in December of this year. Indicate the amount of
Rebecca is a calendar-year taxpayer who operates a business. She made the following business-related expenditures in December of this year. Indicate the amount of these payments that she may deduct this year under both the cash method of accounting and the accrual method of accounting. Note: Leave no answers blank. Enter zero if applicable. Problem 9-73 Part-d (Algo) d. $2,640 for interest on a short-term bank loan relating to the period from October 1 of this year, through March 31 of next year. Answer is complete but not entirely correct. Deductible Amount Cash method S 1,584 Accrual method S 1,584
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