Teal company is an accrual basis taxpayer. on december 1, 2017, a customer paid for an item that was on hand, but the customer wanted the item delivered in early january 2018. teal delivered the item on january 4, 2018. teal included the sale in its 2017 income for financial accounting purposes. a. teal must recognize the income in 2017.b. teal must recognize the income in the year title to the goods passed to the customer, as determined under the state laws in which the store is located. c. teal can elect to recognize the income in either 2017 or 2018.d. teal must recognize the income in 2018.e. none of these.
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Business, 21.06.2019 19:20, rebeccathecatt
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Teal company is an accrual basis taxpayer. on december 1, 2017, a customer paid for an item that was...
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