Question

Deb has found it very difficult to repay her... Deb has found it very difficult to repay her loans. Because of these difficulties, the bank decided to forgive one of her most recent loans, an amount of $91,000. After the loan was discharged, Deb had total assets of $247,000 and her remaining loans totaled $239,000. What amount must Deb include in her gross income

Answer 1

Answer: $8000

Explanation:

The following information can be gotten from the question:

Total assets = $247000

Remaining loans = $239000

The amount that Deb must include in her gross income will be the difference between the total assets and the remaining loans which will be:

= $247000 - $239000

= $8000

=