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Dedria manages real estate and is a cash method taxpayer. She changes to the accrual method in 2020. Dedria's business income for 2020 is $34,000

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Dedria manages real estate and is a cash method taxpayer. She changes to the accrual method in 2020. Dedria's business income for 2020 is $34,000 computed on the accrual method. Her books show the following: (Click the icon to view the data.) Requirements a. What adjustment is necessary to Dedria's income? b. How should Dedria report the adjustment? Requirement a. What adjustment is necessary to Dedria's income? (Use parentheses or a minus sign for negative adjustment.) The adjustment to Dedria's income is i X Data Table Requirement b. How should Dedria report the adjustment? Dedria December 31, 2019 December 31, 2020 may elect to include the full amount in the current year Accounts receivable $ 15,000 $ 24,500 may elect to report the adjustment over a period not to exceed ten years Accounts payable 14,300 12,000 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 Print Done

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