F Ltd. deducted the following reserves on its income statement for the current year: $20,000...
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Accounting
- F Ltd. deducted the following reserves on its income statement for the current year: $20,000 reserve for doubtful accounts, $30,000 reserve for warranty claims, and $150,000 reserve for amounts due after the end of the year for merchandise sales with two- and three-year payment terms. Determine the amount that is not deductible for tax purposes.
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