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Under the cash accounting method, interest paid in advance through discount or otherwise shall be allowed as: (2 Points) A deduction in the year the

Under the cash accounting method, interest paid in advance through discount or otherwise shall be allowed as: (2 Points) A deduction in the year the indebtedness An exclusion to gross income in the year the indebtedness None of the choices An inclusion to gross income in the year the indebtedness

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