Which of the following payments received on December 31, 2014, would be recognized by a cash basis taxpayer in 2014, but would not be recognized in 2014 by an accrual basis taxpayer? I. Checks received from customers for services rendered during November and December 2014. The checks are deposited in the bank account on January 4, 2015. II. Checks received from customers for services to be rendered during 2015. The checks are received in the morning mail and deposited in the bank account on December 31, 2014. A check received from a customer for a service contract. The services under the contract III. are to be rendered over 24 months, beginning in January 2015. The check is deposited in the bank account on January 4, 2014.

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The Answer of Which of the following payments received on December 31, 2014, would be recognized by a cash basis taxpayer in 2014, but would not be recognized in 2014 by an accrual basis taxpayer? I. Checks received from customers for services rendered during November and December 2014. The checks are deposited in the bank account on January 4, 2015. II. Checks received from customers for services to be rendered during 2015. The checks are received in the morning mail and deposited in the bank account on December 31, 2014. A check received from a customer for a service contract. The services under the contract III. are to be rendered over 24 months, beginning in January 2015. The check is deposited in the bank account on January 4, 2014.

Which of the Following Payments Received on December 31, 2014