Business, 03.03.2020 03:29, sadie960

N 2019, the taxpayer became ineligible to use the cash method of accounting. At the beginning of the year, accounts receivable totaled $240,000, accounts payable for merchandise totaled $80,000, and the inventory on hand totaled $320,000. Enter the amount of the adjustment due to the change in accounting method and its effect on net income.

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N 2019, the taxpayer became ineligible to use the cash method of accounting. At the beginning of the...