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1. Avery a cash method taxpayer is a physician. In December of 2015, Avery receives...

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Accounting

1. Avery a cash method taxpayer is a physician. In December of 2015, Avery receives $25,000 in checks from his patients but he does not deposit the money in his bank account until January 7, 2016. How much income will Avery recognize in 2015 and 2016 from these transactions? Would your answer change if one of the patients told Avery that the check for $4,000 wouldnt clear until January 3 because there were insufficient finds in his bank account until then? What is the rationale behind the rules?

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