For 2021, Essence Company, a calendar year taxpayer, will change from using the cash method for tax purposes to the accrual method. At the end of 2020, Essence showed the following items.Accounts receivable $304,600Accounts payable 182,760Bank loan 152,300

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05-12-2022
Business

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For 2021, Essence Company, a calendar year taxpayer, will change from using the cash method for tax purposes to the accrual method. At the end of 2020, Essence showed the following items.Accounts receivable $304,600Accounts payable 182,760Bank loan 152,300

Sagot :

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