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Accounting

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Prasad Corporation is a calendar-year, accrual-method taxpayer. Prasad was formed and started its business activities on January 1, 2021. It reported the following information for 2021. Indicate Prasad's deductible amount for 2021, if any, in each of the following alternative scenarios. f. At the end of 2021, Prasad accrued $84,000 in wages payable and $64,000 in bonuses payable. Prasad paid the wages due January 10, 2022. It paid $16,000 of the bonuses by January 15th, 2022, another $16,000 by February 15th, another $16,000 by March 15th, and the remaining $16,000 by April 15th. g. Prasad's ending allowance for doubtful accounts was $23,000. Bad debt expense recorded on the income statement was $25,000

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