Tracy is single, with all w-2 income, and had an adjusted gross income of $37,000. tracy also has the following items: medical expenses $2,000 state income tax $1,850 interest expense (first mortgage) $3,040 interest expense (second mortgage) $1,200 real estate tax $700 interest expense—car loan $550 interest expense—credit card $125 gifts to charity $300 how much may tracy claim as itemized deductions?

On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?