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What is weasley deduction for the rent and insurance

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Problem 1: Weasley operates a storage business on the accrual method. On July 1, Weasley paid $48,000 for rent on his storage warehouse and $18,000 for insurance on the contents of the warehouse. The rent and insurance cover the next 12 months. What is Weasley's deduction for the rent and insurance?

Reference no: EM132737407

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