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Swan,Inc.is an accrual basis taxpayer.Swan uses the aging approach to calculate the reserve for bad debts.During 2010,the following occur associated with bad debts. The amount of the deduction for bad debt expense for Swan for 2010 is:
Balance Per Books
The amount shown in a company's accounting records, as opposed to the actual cash balance or balance reported by a bank.
Cash Disbursement Transactions
Financial activities involving the payment of cash from a business to vendors, employees, or other entities.
Authorized
Refers to having official permission or approval, often in the context of legal or financial operations that have been ratified or sanctioned by a governing body or higher authority.
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