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Question - Tom and Darla are married and have three children, ages 5, 11, and 18 years old. Their modified AGI is $68,000, and their tax liability on Form 1040, line 11 is $4,902. They claim $510 of child and dependent care credit and $1,200 of education credits on Schedule # (Form 1040), lines 49 and 50. What is the amount of their child tax credit/credit for other dependents?
A) $2,290
B) $4,500
C) $3,192
D) $2,790
how accounts receivables and cash go together. Beyond just cash showing when funds are collected how is the timing of receivables different than the timing of cash and how can the company make sure they are on top of collecting the funds due them.
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