Max opened his dental practice (a sole proprietorship) in March 2017. At the end of the year, he has unpaid accounts receivable of $62,000 and no unpaid accounts payable. Should Max use the accrual method or the cash method for his dental practice?

Question

Quizplus · Accepted Answer

The Answer of Max opened his dental practice (a sole proprietorship) in March 2017. At the end of the year, he has unpaid accounts receivable of $62,000 and no unpaid accounts payable. Should Max use the accrual method or the cash method for his dental practice?

Max Opened His Dental Practice (A Sole Proprietorship) in March