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Flow MeasuresPenno Corporation recorded service revenues of $ 4 8 0 , 0 0 0 in 2 0 2 0 , of which $ 4

Flow MeasuresPenno Corporation recorded service revenues of $480,000 in 2020, of which $408,000 were on credit and $72,000 were for cash. Moreover, of the $408,000 credit sales for 2020, Penno collected $48,000 cash on those receivables before yearend 2020. The company also paid $60,000 cash for 2020 wages. Its employees also earned another $36,000 in wages for 2020, which were not yet paid at year-end 2020.

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