Bashira is a cash-basis calendar-year taxpayer. During the last week of December she received a...

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Accounting

Bashira is a cash-basis calendar-year taxpayer. During the last week of December she received a letter containing a $5,000
check for services rendered. Which of the following is a true statement?
Multiple Choice
Bashira is taxed on the $5,000 of service income in the year she cashes the check.
Bashira is taxed on the $5,000 of service income in the year the check was mailed.
Bashira is taxed on the $5,000 of service income in the year she receives the check.
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