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Business, 26.11.2019 00:31 AdanNava699
Indicate the amount (if any) that josh can deduct as ordinary and necessary business deductions in each of the following situations.
(a). josh borrowed $55,500 from the first state bank using his business assets as collateral. he used the money to buy city of blanksville bonds. over the course of a year, josh paid interest of $13,200 on the borrowed funds, but he received $11,400 of interest on the bonds.
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Indicate the amount (if any) that josh can deduct as ordinary and necessary business deductions in e...
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