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QUESTION

Primo Industries collected $105,770 from customers in 2014. Of the amount collected, $25,238 was from services performed in 2013.

Primo Industries collected $105,770 from customers in 2014. Of the amount collected, $25,238 was from services performed in 2013. In addition, Primo performed services worth $39,762 in 2014, which will not be collected until 2015.

Primo Industries also paid $72,931 for expenses in 2014. Of the amount paid, $29,920 was for expenses incurred on account in 2013. In addition, Primo incurred $40,043 of expenses in 2014, which will not be paid until 2015.

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