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Calculate the service revenue and the operating expenses

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Sunland Corp. had cash receipts from customers in 2020 of $279,000. Cash payments for operating expenses were $170,000. Sunland has determined that at January 1, accounts receivable were $23,500 and prepaid expenses were $29,400. At December 31, accounts receivable were $32,000 and prepaid expenses were $41,200.

Problem 1: Calculate (a) the service revenue and (b) the operating expenses.

Reference no: EM132684745

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