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  3. 15.four years ago, susan loaned $7,000 to her frie

15.Four years ago, Susan loaned $7,000 to her friend Joe. During the...

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Accounting

15.Four years ago, Susan loaned $7,000 to her friend
Joe. During the current year, the $7,000 loan is
considered worthless. Explain how Susan should
treat the worthless debt for tax purposes.
21.Judy just obtained a patent on a new product she
has developed. Bell Corporation wishes to market
the product and will pay 12% of all future sales
of the product to Judy. How can she be sure that
the payments received will be treated as a long-term capital gain?

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