Five years ago, tom loaned his son john $20,000 to start a business. a note was executed with an interest rate of 8%, which is the federal rate. the note required monthly payments of the interest with the $20,000 due at the end of ten years. john always made the interest payments until last year. during the current year, john notified his father that he was bankrupt and would not be able to repay the $20,000 or the accrued interest of $1,800. tom is an accrual basis taxpayer whose only income is salary and interest income. the proper treatment for the nonpayment of the note is: a. no deduction. b. $3,000 deduction. c. $20,000 deduction. d. $21,800 deduction. e. none of the above.

Now ray has had the tires for two months and he notices that the tread has started to pull away from the tire. he has already contacted the place who sold the tires and calmly and accurately explained the problem. they didn’t him because they no longer carry that tire. so he talked with the manager and he still did not get the tire replaced. his consumer rights are being violated. pretend you are ray and write a letter to the company’s headquarters. here are some points to keep in mind when writing the letter: include your name, address, and account number, if appropriate. describe your purchase (name of product, serial numbers, date and location of purchase). state the problem and give the history of how you tried to resolve the problem. ask for a specific action. include how you can be reached.