Rebecca is a calendar-year taxpayer who operates a business. She made the following business-related expenditures in December of year 0.
Indicate the amount of these payments that she may deduct in year 0 under both the cash method of accounting and the accrual method of accounting. $1,500 for interest on a short-term bank loan relating to the period from November 1, year 0 through March 31, year 31.