Visual Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($350 per year), or two years in advance ($680). In September 2023, the company collected the following amounts applicable to future services:\ \ October 2023September 2025 services (two-year contracts) $ 72,000\ October 2023September 2024 services (one-year contracts) 64,000\ Total $136,000\ \ As a result of the above, Visual Cable should report as gross income ?

Answer rating: 100% (QA)

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