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! Required information Problem 9-72(LO 9-4)(Algo) [The following information applies to the...

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Accounting

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Required information
Problem 9-72(LO 9-4)(Algo)
[The following information applies to the questions displayed below.]
Adam elects the accrual method of accounting for his business. What amount of deductions does Adam recognize this year for the following transactions?
Note: Leave no answers blank. Enter zero if applicable. Assume a calendar year end.
Problem 9-72 Part-b (Algo)
b. On December 1 of this year, Adam paid $1,440 for a one-year contract with CleanUP Services to clean his store. The agreement calls for services to be provided on a weekly basis.
Note: Use whole months for your calculation.
Answer is complete but not entirely correct.
Deductible amount
image

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