(Solved): Required information [The following information applies to the questions displayed below.] Adam ele ...

Required information [The following information applies to the questions displayed below.] Adam elects the accrual method of accounting for his business. What amount of deductions does Adam recognize this year for the following transactions? (Leave no answers blank. Enter zero if applicable.) . Adam guarhantees that he will refund the cost of any goods sold to a client if the goods fail within a year of dellvery. In November of this year, Adam agreed to refund $\$4,050$ to clients, and he expects to make payment in January of next year. (The following information applies to the questions displayed below.] Adam elects the accrual method of accounting for his business. What amount of deductions does Adam recognize this year for the following transactions? (Leave no answers blank. Enter zero if applicable.) .. On November 1 of this year, Adam paid $\$864$ for a one-year contract with CleanUP Services to clean his store. The agreement calls for services to be provided on a weekly basis. Required information [The following information applies to the questions displayed below.] Adam elects the accrual method of accounting for his business. What amount of deductions does Adam recognize this year for the following transactions? (Leave no answers blank. Enter zero if applicable.) Adam was billed $\$420$ for annual personal property taxes on his delivery van. Because this was the first time Adam was billed or these taxes, he did not make payment until January of next year. However, he considers the amounts immaterial.