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How do the all events and economic performance requirement applyto thefollowing transactions by an accrual basis taxpayer?a. The company guarantees its products for six months. At theend of 2018, customershad made valid claims for $600,000 that were not paid until2019. Also,the company estimates that another $400,000 in claims from 2018sales will befiled and paid in 2019.b. The accrual basis taxpayer reported $200,000 in corporatetaxable income for2018. The state income tax rate was 6%. The corporation paid$7,000 in estimatedstate income taxes in 2018 and paid $2,000 on 2017 state incometaxeswhen it filed its 2017 state income tax return in March 2018.The company filedits 2018 state income tax return in March 2019 and paid theremaining $5,000of its 2018 state income tax liability.c. An employee was involved in an accident while making a salescall. The companypaid the injured victim $15 ,000 in 2018 and agreed to pay thevictimS 15,000 a year for the next nine years.