Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($600 per year) or two years in advance ($960).In September 2019, the company collected the following amounts applicable to future services: As a result of this, Orange Cable should report as gross income for 2020:

Question

Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($600 per year) or two years in advance ($960).In September 2019, the company collected the following amounts applicable to future services:  As a result of this, Orange Cable should report as gross income for 2020:

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The Answer of Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($600 per year) or two years in advance ($960).In September 2019, the company collected the following amounts applicable to future services:  As a result of this, Orange Cable should report as gross income for 2020:

Orange Cable TV Company, an Accrual Basis Taxpayer, Allows Its