Jethro Company, an accrual basis taxpayer, had a $10,000 overdue account payable to a major supplier. The supplier agreed to settle the account for $9,000 cash from Jethro. Which of the following statements is true?
A. Jethro recognizes $1,000 income because of the settlement.
B. Jethro recognizes no income because of the settlement.
C. Jethro can deduct the $9,000 payment.
D. Jethro can deduct a $1,000 bad debt expense.
Answers: 1
Business, 22.06.2019 08:10, rleiphart1
Bakery has bought 250 pounds of muffin dough. they want to make waffles or muffins in half-dozen packs out of it. half a dozen of muffins requires 1 lb of dough and a pack of waffles uses 3/4 lb of dough. it take bakers 6 minutes to make a half-dozen of waffles and 3 minutes to make a half-dozen of muffins. their profit will be $1.50 on each pack of waffles and $2.00 on each pack of muffins. how many of each should they make to maximize profit, if they have just 20 hours to do everything?
Answers: 3
Business, 22.06.2019 19:30, jaybeast40
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Answers: 1
Business, 23.06.2019 08:10, lexybellx3
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Answers: 2
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