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WFO Corporation has gross receipts according to the following schedule: Year 1 $3.2 million Year 2 $4.2 million Year 3 $5.5 million Year 4 $4.7
WFO Corporation has gross receipts according to the following schedule: Year 1 $3.2 million Year 2 $4.2 million Year 3 $5.5 million Year 4 $4.7 million Year 5 $6.2 million Year 6 $8.2 million If WFO began business as a cash-method corporation in Year 1, in which year would it have first been required to use the accrual method?
Year 3
. Year 4
. Year 5
. Year 6.
None of the choices are correct.
PLEASE ANSWER AS SOON AS POSSIBLE!!!!
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