Problem 9-32 (Algorithmic) (LO. 5) During the current year, Paul, the vice president of a...
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Accounting
Problem 9-32 (Algorithmic) (LO. 5) During the current year, Paul, the vice president of a bank, made gifts in the following amounts: To Sarah (Paul's personal assistant) at Christmas $49 32 To Darryl (a key client)-$3 was for gift wrapping To Darryl's wife (a homemaker) on her birthday To Veronica (Paul's boss) at Christmas 10 45 In addition, on professional assistants' day, Paul takes Sarah to lunch at a cost of $50. Presuming that Paul has adequate substantiation and is not reimbursed, how much can he deduct? Do not round intermediate computations. If required, round your final answer to the nearest cent
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