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24) Norah, who gives music lessons, is a calendar-year taxpayer using the cash-basis method of accounting. On October 1 of this year, she received $1,200

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24) Norah, who gives music lessons, is a calendar-year taxpayer using the cash-basis method of accounting. On October 1 of this year, she received $1,200 for a one-year contract beginning on that date to provide 10 lessons. She gave 6 lessons this year. How much should Norah include in income this year? A) $480 B) $360 C) $720 D) $1,200

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