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6. On March 1, 2020 Jeff bought a $1,500 flat panel TV, agreeing to pay for it by July 1, 2020. The seller tried several
6. On March 1, 2020 Jeff bought a $1,500 flat panel TV, agreeing to pay for it by July 1, 2020. The seller tried several times, unsuccessfully, to collect the $1,500 from Jeff. On October 1, 2020, the seller agreed in exchange for Jeff providing painting services (the painting services were worth only $900), the seller would forgive the entire $1,500 owed on the TV. If Jeff's only other income for the year was $19,000 working at Walmart, and Jeff agrees to do the painting, how much gross income does Jeff have for 2020? a. $20,500 b. $19,300 C. $19,600 d. $20,700
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