Cash basis accounting what would the total gross income

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Reference no: EM13777877

Jennifer is a self-employed state-licensed speech therapist specializing in stroke victim rehabilitation. She is paid directly by nursing homes after submitting invoices to them documenting her services. In 2014, she collected $48,500 from the nursing homes. Of this amount, $4,500 was collected in January, 2014 for services performed in December, 2013. In addition to the amount collected above, she billed $5,800 of services in December, 2014 which she collected in January, 2015. Additionally, Jennifer had been considering a purchase of a small speech clinic located in Mt. Pleasant, but, after spending $1,850 during 2014 investigating the financial situation of that business she decided against it.

If Jennifer uses cash basis accounting what would the total gross income be for 2014?

Reference no: EM13777877

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