, 1 , B , B A Additional Information On January 1, 2022, XYZ Corp received...

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, 1 , B , B A Additional Information On January 1, 2022, XYZ Corp received $40,000 in prepayment for a contract to provide services over a 2 year period. For financial statement purposes, XYZ Corp has or will include $20,000 of this income in service revenue in each year from 2022 through 2023. Per the 12/31/2023 XYZ Corp balance sheet, the Allowance for Doubtful Accounts had a beginning balance of $590,000 and an ending balance of $557,500. On December 15th 2023, the board of directors authorized a $100,000 bonus for the CEO. This bonus was accrued into salary and wages expense and was broken into two separate payments: $70,000 paid on February 1, 2024, and $30,000 on March 18, 2024. The CEO does not own a significant portion of ZYZ Corp's outstanding stock. Depreciation expense, as calculated for tax purposes, is $2,812,500. XYZ Corp. has an NOL carryforward of $1,609,400 from losses generated in 2022. Average gross receipts for XYZ Corp have exceeded $35 million over the last five years. B , 1 , B , B A Additional Information On January 1, 2022, XYZ Corp received $40,000 in prepayment for a contract to provide services over a 2 year period. For financial statement purposes, XYZ Corp has or will include $20,000 of this income in service revenue in each year from 2022 through 2023. Per the 12/31/2023 XYZ Corp balance sheet, the Allowance for Doubtful Accounts had a beginning balance of $590,000 and an ending balance of $557,500. On December 15th 2023, the board of directors authorized a $100,000 bonus for the CEO. This bonus was accrued into salary and wages expense and was broken into two separate payments: $70,000 paid on February 1, 2024, and $30,000 on March 18, 2024. The CEO does not own a significant portion of ZYZ Corp's outstanding stock. Depreciation expense, as calculated for tax purposes, is $2,812,500. XYZ Corp. has an NOL carryforward of $1,609,400 from losses generated in 2022. Average gross receipts for XYZ Corp have exceeded $35 million over the last five years. B