Marsha is married and owns her own business. She uses the cash receipts and disbursements method for
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Marsha is married and owns her own business. She uses the cash receipts and disbursements method for tax purposes. During the current year her income, expenses, and other items were as follows:
Gross receipts $40000,
Cost of good sold $24000,
General expenses $14000,
uncollectible accounts receivable $6000.
What is Marshas current year bad debt expenses deduction of tax purposes?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: