Sal, a lawyer, billed Bob $1,000 for legal services. Bob paid Sal $500 cash and installed a new door for Sal's office to settle the remainder of the bill. Bob normally charges $650 to install a door. What amount does Sal need to report as income for tax purposes?
$1,000 [this was the amount that was... View the full answer
- The answer is $1,150
- May 05, 2018 at 5:49pm