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Jim is 68 and single and retired. Here is his income.
Social Security Income 15,000
Chase Interest Income 5,000
Municipal bond interest 5,000
Qualifying dividends 5,000
He has itemized deductions of $10,000.
Problem 1: Compute his tax liability. Use 2019 tax law.
Prepare amortization schedule until end of lease term and prepare journal entries for ANNA Bhd to record leasing activities during the first and second year
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