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Referring to Case Study 2 for Gifts Galore, Inc.: If Line 1 of Schedule L...

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Accounting

Referring to Case Study 2 for Gifts Galore, Inc.: If Line 1 of Schedule L is reduced by $10,000, reducing total assets to $101,063, what entry on Form 1120-S page 1 will be affected? Box F, total assets. Line 1a, gross receipts or sales. Line 3, gross profit. Line 20, total deductions

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