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Question 5 Poole Services, a calendar year taxpayer, billed a client for $1,675 of services on November 30, 2020, and received a check in full
Question 5
Poole Services, a calendar year taxpayer, billed a client for $1,675 of services on November 30, 2020, and received a check in full payment from the client on January 12, 2021. If Poole is an accrual basis taxpayer, it reports $1,675 taxable income in 2020.
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