Sammy wholly owned a manufacturing business that started in 2022, and had $100,000 of gross...
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Accounting
Sammy wholly owned a manufacturing business that started in 2022, and had $100,000 of gross receipts in 2022. In 2023, Sammy had: $9,000 of interest expense on a business loan, $70,000 of revenue after cost of goods sold, and incurred $47,000 of other business deductions.
What amount of the $9,000 of interest can Sammy deduct as as a business expense?
Group of answer choices
$2,100
$9,000
$0
$6,900
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