Brandon is the operator and owner of a cleaning service who uses the cash method of accounting.He receives the following payments on December 31,2016,the last business day of his tax year:
How much of the $9,400 collected by Brandon on December 31 must be included in his 2016 gross income?
A) $2,400
B) $3,000
C) $5,400
D) $7,000
E) $9,400
Correct Answer:
Verified
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