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Required information [The following information appwes to the questions displayed bolow] Athough Hank is retired,...

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Accounting

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Required information [The following information appwes to the questions displayed bolow] Athough Hank is retired, he is an excellent handyman and often warks part time on small projects for neighbors and friends. Last weok his neighbor, Mike, offered to pay Hank $920 for minor repais to his house. Hank completed the repairs in December of this yeac. Hank uses the cash method of accounting and is a calendanyer tarpayer. Compute Hanks gross income for this year from each of the following allemative transactions c. Mike bought Hank a new set of snow tires. The tires typically sell for $920, but Mike bought them on sale for $828

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