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In year 2020, Mr. Happy received gross receipts from his clients in the amount of 100,000. He incurred expenses of $30,000, which he paid in

In year 2020, Mr. Happy received gross receipts from his clients in the amount of 100,000. He incurred expenses of $30,000, which he paid in 2020. If Mr. Happy is a cash method taxpayer, what is his income for 2020?

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