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Required information Problem 9-73 (LO 9-4) (Algo) [The following information applies to the questions displayed below.] Rebecca is a calendar-year taxpayer who operates a business.
Required information Problem 9-73 (LO 9-4) (Algo) [The following information applies to the questions displayed below.] 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. (Leave no answers blank. Enter zero if applicable.) Problem 9-73 Part-a (Algo) a. $2,700 for an accountant to evaluate the accounting system of Rebecca's business. The accountant spent three weeks in January of next year working on the evaluation. Deductible Amount Cash method Accrual method b. $3,200 for new office furniture. The furniture was delivered on March 15 of next year. Deductible Amount Cash method Accrual method c. $3,400 for property taxes payable on her factory. Deductible Amount Cash method Accrual method d. $2,000 for interest on a short-term bank loan relating to the period from November 1 of this year, through February 28 of next year. Deductible Amount Cash method Accrual method
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