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Business, 25.01.2021 20:40 trapqueenriz12

Murphy Company, a cash-basis, calendar-year taxpayer, received a call on December 28, year 1, from a client stating that a check for $9,000 as payment in full for their services can be picked up at their offices, two blocks away, any weekday between 1:00 and 6:00 P. M. Murphy does not pick up the check until January 3, year 2. In which year does Murphy recognize the income?

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Murphy Company, a cash-basis, calendar-year taxpayer, received a call on December 28, year 1, from a...
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