Buffalo Company had cash receipts from customers in 2020 of $138,720. Cash payments for operating...
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Accounting
Buffalo Company had cash receipts from customers in 2020 of $138,720. Cash payments for operating expenses were $92,170. Buffalo has determined that at January 1, accounts receivable was $14,450, and prepaid expenses were $19,410. At December 31, accounts receivable was $18,800, and prepaid expenses were $19,690. Compute (a) service revenue and (b) operating expenses.
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