In its first vear of optrations, Crane Comparyy recoenized $22.960 in service revenve, $4,920 of which was on account and still outstanding at year thd. The remainine $18,040 was recelved in cash from customers. The comeary incurred operating experses of $12.956. Of these expensex, 59,840 were paid incash; 53.116 was sfill owed on axcount at year-end. In addition. Crane jresait \$1,968 for insurance coverage that would not be used until the second year of operatiens. accrual busis of accounting