Steven operates a landscaping service on the accrual method. In September of this year Steven received a payment of $18,000 for 24 months of landscape services ($750 per month commencing on November 1st of this year). When must Steven recognize the income if his accounting methods are selected to minimize income recognition? A. $1,500 is recognized in this year, $16,500 next year. B. $1,500 is recognized this year, $9,000 next year, and $7,500 in the last year or the contractC. $18,000 is recognized this yearD. $9,000 is recognized this year and $9,000 next yearE. $18,000 is recognized in the last year of the contract
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Home » Business » Steven operates a landscaping service on the accrual method. In September of this year Steven received a payment of $18,000 for 24 months of landscape services ($750 per month commencing on November 1st of this year).