Contrast the profitability that Dr. Lopez faces by using the cash basis of accounting with the profitability he faces by using the accrual basis of accounting for the month of July. What if Dr. Lopez did not accept third-party insurance and required all patients to pay at the time of service? Would there be any difference between the cash basis and accrual basis of accounting? Why or why not

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When Dr Lopez uses the cash basis of accounting he would only recognize revenue when cash is receive... View the full answer