A doctor for the Benson Family Practice performs a sports physical exam for AllisonSmythe on February 1. The charge for the exam is $100; Smythe’s insurance company,Cardinal Health, is billed for the entire $100 on February 1. Cardinal Health receivesthe invoice on February 2, and enters the amount into its payment system on February 4.Benson Family Practice receives the $100 payment from Cardinal Health on February 20.On which date would Benson Family Practice recognize the revenue for Smythe’s physical?a. February 1b. February 2c. February 4d. February 20

A doctor for the Benson Family Practice performs a sports physical exam for AllisonSmythe on February 1. The charge for the exam is $100; Smythe’s insurance company,Cardinal Health, is billed for the entire $100 on February 1. Cardinal Health receivesthe invoice on February 2, and enters the amount into its payment system on February 4.Benson Family Practice receives the $100 payment from Cardinal Health on February 20.On which date would Benson Family Practice recognize the revenue for Smythe’s physical?a. February 1b. February 2c. February 4d. February 20

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter10: Deductions And Losses: Certain Itemized Deductions

Section: Chapter Questions

Problem 4DQ

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