Speak Corporation, a calendar- year, accrual- basis taxpayer, sell packages of foreign langauge lessons to individuals planning to work overseas. In December 2018, it sold and received payment for $600,000 of 24- month lesson packages to be provided evenly through 2019 and 2020. Speak Corporation will recognize the
$600,000 of income

Question

Quizplus · Accepted Answer

The Answer of Speak Corporation, a calendar- year, accrual- basis taxpayer, sell packages of foreign langauge lessons to individuals planning to work overseas. In December 2018, it sold and received payment for $600,000 of 24- month lesson packages to be provided evenly through 2019 and 2020. Speak Corporation will recognize the
$600,000 of income

Speak Corporation, a Calendar- Year, Accrual- Basis Taxpayer, Sell Packages