Business, 16.04.2021 04:00, Kimberlytdb

Pozzi Company, a cash basis business, received $16,930 cash as payment on a loan Pozzi made to a business associate two years ago. The payment consisted of a $15,000 principal payment and $1,930 interest. On receipt of the cash, Pozzi recognizes: Group of answer choices $1,930 taxable income. $16,930 taxable income. No taxable income. $15,000 taxable income.

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Pozzi Company, a cash basis business, received $16,930 cash as payment on a loan Pozzi made to a bus...