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Question - Tonya had the following items for last year:

Salary

$40,000

Short-term capital gain

$12,000

Non-business bad debt

($10,000)

Long-term capital loss

($8,000)

For the current year, Tonya had the following items:

Salary

$45,000

Collection of last year's bad debt

$12,000

Determine Tonya's adjusted gross income for the current year.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M93097975
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