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Anarel [89]
3 years ago
15

Several years ago John Johnson, who is in the lending business, loaned Sara $30,000 to purchase an automobile to be used for per

sonal purposes. In August of the current year, Sara filed for bankruptcy, and John was notified that he could not expect to receive more than $4,000. As of the end of the current year, John has received $1,000 of the expected $4,000. John has contacted you about the possibility of taking a bad debt deduction for the current year. Complete the letter to John that contains your advice as to whether he can claim a bad debt deduction for the current year.
Business
1 answer:
Alex73 [517]3 years ago
7 0

Answer:

the bad debt will be equal to $25,000 .

Explanation:

given,

Sara loaned amount = $30,000              

Sara filed for Bankruptcy              

John expected amount = $ 4,000                

john received amount = $ 1,000          

The bad dept recorded will be          

                                   =($30,000-($1,000+$4,000))

                                   = $25,000                                    

so, the bad debt will be equal to $25,000 .

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Answer: a. The professional software package included Web 2.0 applications, but it cost more than $1,200.

Explanation:

A simple rule for writing a correct number style is that when writing numbers between 1 - 9 ( single digits numbers), you should spell them out. When writing anything larger however or if writing multiple numbers, you should write them as numerals.

This convention can be typically broken every now and then in certain cases. One of those cases is that, if you have a situation where you have 2 numbers in a sentence, you have to use one style for it and if the 2 numbers consist of 1 small number and 1 large number you would preferably have to use numerals.

For this reason Option A which has two numbers written as numerals is correct.

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Which of the following does a firm possess when it can outperform other firms in the same industry or the industry average over
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