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John graduates from high school in 2018 and enrolls in a private college in the fall.His parents pay $10,000 for his tuition and fees.
a.Assuming John's parents have AGI of $86,000, what is the American Opportunity credit they can claim for John? Explain.
b.Assuming John's parents have AGI of $175,000, what is the American Opportunity credit they can claim for John? Explain.
Checkbook Balance
The current total amount of funds available in a checking account, reflecting all transactions that have been recorded in the checkbook ledger.
Bank Error
A mistake made by a bank in accounting transactions, deposits, withdrawals, or charges.
NSF Check
A non-sufficient funds (NSF) check is a check that cannot be processed because the account from which the funds are drawn does not have enough funds.
Adjusted Cash Balance
The cash balance reflected in the books after adjustments have been made for checks issued, deposits in transit, and other discrepancies.
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