Bob operates a catering service on the accrual method in, Ask an Expert

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Bob operates a catering service on the accrual method. In November of year 1 Bob received a payment of $9,000 for 18 months of catering services to be rendered from December 1" of year 1 through May 31" year 3. When must Bob recognize the income if his accounting methods are selected to minimize income recognition?

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Financial Accounting, Accounting

Category:- Financial Accounting
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