Speak Corporation,a calendar year cash basis taxpayer,sells packages of foreign language lessons to individuals planning to work overseas.In December 2015,it sold and received payment for $600,000 of 24-month lesson packages to be provided evenly through 2016 and 2017.Speak Corporation will recognize the $600,000 of income

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As a cash basis taxpayer, Speak Corporation recognizes income when it is received. Since the payment was received in December 2015, the entire $600,000 is recognized as income in 2015.

Speak Corporation,a Calendar Year Cash Basis Taxpayer,sells Packages of Foreign