26. LO4 Classify each of the following transactions as a deductible expense, a nonde- ductible expense, or a loss:
a. Nira sells for $4,300 stock that cost $6,000.
b. Chiro Medical, Inc., pays $2,200 for subscriptions to popular magazines that it places in its waiting room.
c. Lawrence pays $200 for subscriptions to fly-fishing magazines.
d. The Mendota Partnership pays $200,000 to install an elevator in one of its rental properties.
e. Sterling Corporation pays $6,000 for lawn maintenance at its headquarters.
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