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In which of the following situations is income taxable to Belinda in Year 1? Belinda owns an architectural firm and reports on the cash basis.
In which of the following situations is income taxable to Belinda in Year 1? Belinda owns an architectural firm and reports on the cash basis. I. Belinda received $6000 from a client on December 28 , Year 1 . She deposited the check on December 29 , but it was returned on December 30, Year 1 because the client's bank account did not have sufficient funds. II. Belinda was offered $5000 from a client on December 31, Year 1, but she refused to accept the payment and asked the client to mail the check to her the next week. III. Belinda received a $4000 check from a client on December 29 , Year 1 but did not deposit it in her checking accounting until January 4, Year 2. I only II only II and III only I, II, and
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