Reference no: EM132460138

Provence Inc. has the following select balance sheet accounts at the end of the current and prior year.

Please note the labels on the columns (current year is first).

Current YearPrior YearChangeCurrent Assets Cash   $317, 400          $93,150            $224,250

Accounts Receivable                                       $312, 225             $265,305          $46, 920

Prepaid Rent                                                  $25, 875               $23, 460          $2,415

Current Liabilities Utilities payable                    $17,600                  $14,300            $3,300

Unearned revenue                                         $310,500                $289,800          $20,700

Notes Payable                                             $393,300                 $217,350             $175,950

In the current year, Provence reported these balances on the income statement (and others as well, of course).

$520,000 of Sales Revenue

$186,000 of Rent expense

$32,000 of Utility expense

pe ONLY your numeric answer in the box. Do not use $ signs. Keep your work for later review but you cannot show it here.

Problem 1. Compute cash collected from customers:

Problem 2. Compute cash paid for rent: