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Sal, a lawyer, billed Bob $1,000 for legal services. Bob paid Sal $500 cash and...

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Accounting

Sal, a lawyer, billed Bob $1,000 for legal services. Bob paid Sal $500 cash and installed a new door for Sals office to settle the remainder of the bill. Bob normally charges $650 to install a door. What amount does Sal need to report as income for tax purposes? A) $500 B) $650 C)$1000 D) $1150

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