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GreenUp, a calendar year, accrual basis taxpayer, provides landscaping installation and maintenance services to its customers. In August 2017, GreenUp contracted with a university to

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GreenUp, a calendar year, accrual basis taxpayer, provides landscaping installation and maintenance services to its customers. In August 2017, GreenUp contracted with a university to renovate its lawns and gardens. GreenUp agreed to complete the entire renovation by May 31, 2019, and the university prepaid the entire $100,000 fee. GreenUp completed 20 percent of the work in 2017, 65 percent in 2018, and 15 percent in 2019. a. How much revenue should GreenUp report on its financial statements for 2017, 2018, and 2019? b. How much taxable income must GreenUp recognize in 2017, 2018, and 2019. GK Company, a calendar year accrual basis taxpayer, made the following adjustments to its allowance for bad debts this year: a. Compute GK's bad debt expense for financial statement purposes. b. Compute GK's tax deduction for bad debts

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