Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($500 per year), or two years in advance ($950). In September 2016, the company collected the following amounts applicable to future services:
As a result of the above, Orange Cable should report as gross income:

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The Answer of Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($500 per year), or two years in advance ($950). In September 2016, the company collected the following amounts applicable to future services:
As a result of the above, Orange Cable should report as gross income:

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