Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 4 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 14 Aug 2017 My Price 4.00

Karen,

(TCO 7) Karen, an accrual basis taxpayer, sold goods in October 2011 for $10,000. The customer was unable to pay cash, so the customer gave Karen a note for $10,000 that was payable in April 2012. The note bore interest at the federal rate. The fair market value of the note at the end of 2011 was $9,000. Karen collected $10,000 from the customer in April 2012. Under the accrual method: A. Karen must recognize $10,000 of income in 2011. B. Karen must recognize $9,000 of income in 2011. C. Karen must recognize $10,000 of income in 2012. D. Karen must recognize $1,000 of income in 2012. E. None of the above

Answers

Maurice Tutor
(5)
Status NEW Posted 14 Aug 2017 01:08 AM My Price 4.00

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