In 2014, Renato Corp had cash receipts from customers of $ 152,000 and cash payments for operating expenses of $97,000 At January I, 2014, accounts receivable was $ 13,000 and total prepaid expenses was $17,500 At December 31, 2014, accounts receivable was $18,600 and total prepaid expenses was $23...

a Cash Receipts from Customers Beginning accounts receivable En ...

In 2014, Renato Corp. had cash receipts from customers of $ 152,000 and cash payments for operating

Question:

In 2014, Renato Corp. had cash receipts from customers of $ 152,000 and cash payments for operating expenses of $97,000. At January I, 2014, was $ 13,000 and total prepaid expenses was $17,500. At December 31, 2014, was $18,600 and total prepaid expenses was $23,200. Calculate (a) total service revenue and (b) total operating expenses.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...