Franco is owner and operator of a cleaning service who uses the accrual method of accounting.He receives the following payments on December 31,2017,the last business day of his tax year:

How much of the $11,400 collected by Franco on December 31 must be included in his 2017 gross income?
A)$5,000
B)$6,400
C)$7,400
D)$9,000
E)$11,400

Question

Franco is owner and operator of a cleaning service who uses the accrual method of accounting.He receives the following payments on December 31,2017,the last business day of his tax year:
​

How much of the $11,400 collected by Franco on December 31 must be included in his 2017 gross income?
A)$5,000 
B)$6,400 
C)$7,400 
D)$9,000 
E)$11,400

Quizplus · Accepted Answer

The Answer of Franco is owner and operator of a cleaning service who uses the accrual method of accounting.He receives the following payments on December 31,2017,the last business day of his tax year:
​

How much of the $11,400 collected by Franco on December 31 must be included in his 2017 gross income?
A)$5,000 
B)$6,400 
C)$7,400 
D)$9,000 
E)$11,400

Franco Is Owner and Operator of a Cleaning Service Who