Albert , the managing director of Albert's Vehicle Parts , guaranteed a bank loan of $750,000 for Josh his employee . Josh left the Island unexpectedly owing the bank $150,000 which Albert had to pay . Discuss whether Albert can claim this as an allowable deduction from the accounts of Albert's Vehicle Parts? Would your answer be different Albert's Vehicle Parts had lent Josh the money and had forgiven Josh the debt before he left ?

Answer rating: 100% (QA)

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