The Cable TV Company, an accrual bases Calendar year taxpayer, allows its customers to pay by the year, two years in advance or three years in advance On January 1, 2020, the company collected the following amounts applicable to future services 2020 service contracts (one year contracts) $12.000 2020 and 2021 service contracts (2.year contracts) 24.000 2020 2021 2022 service contracts (3-year contracts) 30,000 The revenue is corned evenly over each month of the contract starting with January, 2020 Cable TV wants to report as little income as possible in each year. In what your will they report the most amount of gross income under the above contracts 2020 2022 2021 O 2020 and 2021 will have equal amounts of income Previous Next