Required information The following information applies to the questions displayed below.] Erin is considering switching...
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Required information The following information applies to the questions displayed below.] Erin is considering switching her business from the cash method to the accrual method at the beginning of next year (year 1). Determine the amount and timing of her 481 adjustment assuming the IRS grants Erin's request in the following alternative scenarios a. At the end of year O/beginning of year 1, Erin's business has $18,000 of accounts receivable and $22,200 of accounts payable that have not been recorded for tax purposes Erin's $481 Adjustment by Number of year(s)
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