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John, an accrual basis fitness trainer, receives $1,000 on July 1 of the current year...

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Question

Accounting

John, an accrual basis fitness trainer, receives $1,000 on July 1 of the current year for services to be
performed next year. He also steals $50 from the cash register at his place of employment. What is the minimum
amount of income that John must report for the current year?
a. $0
c. $1,000
b. $50
d. $1,050
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