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At the end of 2017, the accounting records of Besotted Company showed the following data: 2017 2018 2019 $70,000 56,000 $110,000 34,000 10,000 Service revenue:
At the end of 2017, the accounting records of Besotted Company showed the following data: 2017 2018 2019 $70,000 56,000 $110,000 34,000 10,000 Service revenue: Cash On credit 2019 revenue collected in advance of 2019 (not Included in the $110,000) Additional cash collections for: 2017 service revenue 2018 service revenue 16,000 8,000 12,000 $4,000 44,000 6,000 64,000 18,000 10,000 Expenses: Paid in cash On credit 2019 expenses paid in advance of 2019 (not Included in the $64,000) Additional cash payments for: 2017 expenses 2018 expenses 4,000 2,000 8,000 8,000 Required: Complete the following tabulation: 2017 2018 Service revenue that would be reported: Accrual basis Cash basis $ $ $ $ Expenses that would be reported: Accrual basis Cash basis $ $ $ $ Please show calculations here
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