Ahmed, who is an electrician, perform services for a client December 1, 2019. Ahmed billed...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Ahmed, who is an electrician, perform services for a client December 1, 2019. Ahmed billed the client $1,500 on December 5, 2019. Immediately after that, Ahmed traveled out of town and won't return until January 7, 2020. Ahmed authorized his friend Mary to act as his agent to receive the payment. Ahmeds client is aware of this arrangement. Mary received the payment December 30, 2019. Ahmed deposit the $1,500 on January 8, 2020.
When should Ahmed recognize the $1,500 for tax purpose? Explain?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.