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Required information [The following information applies to the questions displayed below] Adam elects the accrual...

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Accounting

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Required information [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? (Leave no answers blank. Enter zero if applicable.) a. Adam guarantees that he will refund the cost of any goods sold to a client if the goods fail within a year of delivery. In November of this year, Adam agreed to refund $4,600 to clients, and he expects to make payment in January of next year Deductible amount

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