Question: Problem 4-32 (Algorithmic) (LO. 2, 5) Al is a medical doctor who conducts his practice as a sole proprietor. During 2019, he received cash of
Problem 4-32 (Algorithmic) (LO. 2, 5) Al is a medical doctor who conducts his practice as a sole proprietor. During 2019, he received cash of $391,200 for medical services. Of the amount collected, $31,200 was for services provided in 2018. At the end of 2019, Al had accounts receivable of $96,500, all for services rendered in 2019. In addition, at the end of the year, Al received $11,000 as an advance payment from a health maintenance organization (HMO) for services to be rendered in 2020, a. Compute Al's gross income for 2019 using the cash basis of accounting, Feedback Check My Work b. Compute Al's gross income for 2019 using the accrual basis of accounting
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