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Patrick, an attorney, is the sole shareholder of Gander Corporation. Gander is a personal service corporation with a fiscal year ending October 31. The corporation paid Patrick a salary of $360,000 during its fiscal year ending October 31,2009. How much salary must Gander pay Patrick during the period November 1 through December 31, 2009, to permit the corporation to continue to use its fiscal year without negative tax effects?

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Accounting Basics, Accounting

Category:- Accounting Basics
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