KingoftheJungle2148 KingoftheJungle2148

02-11-2022
Business

Answered

colbert operates a catering service. in july of year 1, colbert received a payment of $36,000 for 36 months of catering services to be rendered from august 15th of year 1 through august 15th of year 4. when must colbert recognize this income if he selects the accounting method that minimizes income recognition in year 1? (assume colbert is a calendar-year-end taxpayer)

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