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Rosie Ltd had the following balances related to bad debts for the year ended 30 June 2021: Allowance for Doubtful Debts $31,500 (30 June 2020: $26,000), and bad debts expense $25,000. The company income tax rate is 30%.
Problem 1: The amount that Rosie Ltd can claim as a tax deduction for bad debts for 30 June 2021 is:
Select one:
a. $25,000
b. $19,500
c. $30,500
d. $5,850
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