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Required information [The following information applies to the questions displayed below.] Erin is considering switching her business from the cash method to the accrual method
Required information [The following information applies to the questions displayed below.] Erin is considering switching her business from the cash method to the accrual method at the beginning of next year. Determine the amount and timing of her 481 adjustment assuming the IRS grants Erin's request in the following alternative scenarios. at At the end of this year, Erin's business has $19,300 of accounts receivable and $24,100 of accounts payable that have not been ecorded for tax purposes. o. At the end of this year, Erin's business reports $34,500 of accounts receivable and $15,100 of accounts payable that have not been ecorded for tax purposes
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