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Business, 23.10.2019 04:00 hmatt5643

Ajax computer company is an accrual method calendar year taxpayer. ajax has never advertised in the national media prior to this year. in november of this year, however, ajax paid $1 million for television advertising time during a "super" sporting event scheduled to take place in early february of next year. in addition, in november of this year the company paid $500,000 for advertising time during a professional golf tournament in april of next year. what amount of these payments, if any, can ajax deducta. $1 million. b. $500,000.c. $1.5 million. d. $1.5 million only if the professional golf tournament is played before april 15.e. no deduction can be claimed this year.

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Ajax computer company is an accrual method calendar year taxpayer. ajax has never advertised in the...

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