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Which of the following C corporations will be allowed to use the cash method of accounting for 2018? Explain your answers. a. Jade Corporation, which

Which of the following C corporations will be allowed to use the cash method of accounting for 2018? Explain your answers.

a. Jade Corporation, which had a gross receipts of $25.3 million in 2015, $24.1 million in 2016, and $25 million in 2017.

b. Lime Coporation a personal service corporation, which had gross receipts of $25.8 million in 2015, $25.2 million in 2016, and $24.4 million in 2017.

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