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Which year would it have first been required

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Question - A Corporation has gross receipts according to the following schedule

Year 1 $21.00 million

Year 2 $23.00 million

Year 3 $26.00 million

Year 4 $26.50 million

Year 5 $27.00 million

Year 6 $29.00 million

Required - If they began business as a cash-method corporation in Year 1, in which year would it have first been required to use the accrual method?

Reference no: EM132663979

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