Help with Accounting Question (4-25) 2
May 29th, 2022
Primo Industries collected $105,478 from customers in 2014. Of the
amount collected, $24,056 was from services performed in 2013. In
addition, Primo performed services worth $40,870 in 2014, which will
not be collected until 2015.
Primo Industries also paid
$70,141 for expenses in 2014. Of the amount paid, $30,745 was for
expenses incurred on account in 2013. In addition, Primo incurred
$40,202 of expenses in 2014, which will not be paid until 2015.