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61. On April 1 of year 0 Stephanie received a $9,000 payment for full payment on a three-year service contract (under the contract Stephanie is

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61. On April 1 of year 0 Stephanie received a $9,000 payment for full payment on a three-year service contract (under the contract Stephanie is obligated to provide advisory services for the next three years). a) What amount of income should Stephanie recognize in year 0 if she uses the accrual method of accounting (she recognized $2,250 for financial accounting b) What amount of income will Stephanie recognize in year 1 if she uses the accrual c) What amount of income will Stephanie recognize in year 2 if she uses the accrua d) What amount of income will Stephanie recognize in year O if she recognizes purposes)? method of accounting? method of accounting? $5,000 of income from the contract for financial statement purposes

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