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Al is a medical doctor who conducts his practice as a sole proprietor. During 2023 , he received cash of $490,000 for medical services. Of
Al is a medical doctor who conducts his practice as a sole proprietor. During 2023 , he received cash of $490,000 for medical services. Of the amount collected, $33,600 was for services provided in 2022 . At the end of 2023,Al had accounts receivable of $94,800, all for services rendered in 2023. In addition, at the end of the year, Al received $9,500 as an advance payment from a health maintenance organization (HMO) for services to be rendered in 2024. a. Compute Al's gross income for 2023 using the cash basis of accounting. $ Feedback Check My Work b. Compute Al's gross income for 2023 using the accrual basis of accounting
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