primo industries collected $105,000 from customers in 2015. of the

Project Description:

primo industries collected $105,000 from customers in 2015. of the amount collected, $25,000 was for services performed in 2014. in addition, primo performed services worth $40,000 in 2015, which will not be collected until 2016.primo industries also paid $72,000 for expenses in 2015. of the amount paid, $30,000 was for expenses incurred on account in 2014. in addition, primo incurred $42,000 of expenses in 2015, which will not be paid until 2016.instructions(a) compute 2015 cash-basis net income.(b) compute 2015 accrual-basis net income.
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