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The Cable TV Company,an accrual-basis taxpayer,allows its customers to pay by the month,by the year,or two years in advance.In December 2017,the company collected the following amounts applicable to future services:
Assuming Cable TV wants to minimize income reported for 2016,what is the amount of gross income that must be reported for 2017 and how much of the income from these contracts will be reported in 2018?
Kidneys
Organs in the urinary system responsible for filtering waste products from the blood and excreting them in urine.
Ovaries
Female reproductive organs in vertebrates that produce eggs (ova) and hormones like estrogen and progesterone.
Adrenal Hormones
Chemical messengers produced by the adrenal glands, involved in stress responses, metabolism, immune system, and other bodily functions.
Emotion
A complex psychological state that involves an experience of thought, physical responses, and cultural or social expressions.
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