Business, 13.11.2019 06:31 shiny9362

On june 2, 2018, fred’s tv sales sold mark a large hd tv on account for $12,000. fred’s tv sales uses the accrual method. in 2019, when the balance on the account was $8,000, mark filed for bankruptcy. fred was notified that he could not expect to receive any of the amount owed to him. in 2020 final settlement was made and fred received $1,000. how much bad debt loss can fred deduct in 2020?

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On june 2, 2018, fred’s tv sales sold mark a large hd tv on account for $12,000. fred’s tv sales use...