Debbie manages real estate and is a cash method taxpayer. She changes to the accrual method in 2020. Debbie's business income for 2020 is $41,000 computed on the accrual method. Her books show the following: (Click the icon to view the data.) Requirements What adjustment is necessary to Debbie's income? b. How should Debbie report the adjustment? a. Requirement a. What adjustment is necessary to Debbie's income? (Use parentheses or a minus sign for negative adjustment.) The adjustment to Debbie's income is Requirement b. How should Debbie report the adjustment? Debbie may elect to include the full amount in the current year may elect to report the adjustment over a period not to exceed ten years must agree to report the full amount in the current year must agree to report the adjustment over a period not to exceed four years X Data Table December 31, 2019 December 31, 2020 Accounts receivable 18,000 $ 24,600 Accounts payable 17,500 13,600 Print Done Debbie manages real estate and is a cash method taxpayer. She changes to the accrual method in 2020. Debbie's business income for 2020 is $41,000 computed on the accrual method. Her books show the following: (Click the icon to view the data.) Requirements What adjustment is necessary to Debbie's income? b. How should Debbie report the adjustment? a. Requirement a. What adjustment is necessary to Debbie's income? (Use parentheses or a minus sign for negative adjustment.) The adjustment to Debbie's income is Requirement b. How should Debbie report the adjustment? Debbie may elect to include the full amount in the current year may elect to report the adjustment over a period not to exceed ten years must agree to report the full amount in the current year must agree to report the adjustment over a period not to exceed four years X Data Table December 31, 2019 December 31, 2020 Accounts receivable 18,000 $ 24,600 Accounts payable 17,500 13,600 Print Done