Chet, a cash-basis, calendar-year sole proprietor, repairs the computer system in his dentists office. On December 10,

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Chet, a cash-basis, calendar-year sole proprietor, repairs the computer system in his dentist’s office. On December 10, 2018, he sends the dentist a bill for $600 and records the account receivable. In January 2019, Chet accepts dental work worth $575 in full payment of the bill. How much and in which year does Chet report gross income?

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Taxation For Decision Makers 2019

ISBN: 9781119497288

9th Edition

Authors: Shirley Dennis Escoffier, Karen A. Fortin

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