Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($600 per year), or two years in advance ($960). In September 2018, the company collected the following amounts applicable to future services:
As a result of the above, Orange Cable should report as gross income for 2019:

Question

Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($600 per year), or two years in advance ($960). In September 2018, the company collected the following amounts applicable to future services: 
As a result of the above, Orange Cable should report as gross income for 2019:

Quizplus · Accepted Answer

The Answer of Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($600 per year), or two years in advance ($960). In September 2018, the company collected the following amounts applicable to future services: 
As a result of the above, Orange Cable should report as gross income for 2019:

Orange Cable TV Company, an Accrual Basis Taxpayer, Allows Its