Total Paint Services earned $120,000 of service revenue during 2016. Of the $120 000 earned the badness received $92,000 in cash The remaining amount. $28,000 was still owed by customers as of December 31. In addition 31. In addition, Total Paint Services incurred $80,000 of expenses during the year. As of December 31, $11,0000 of the expenses still needed to be paid. In addition, total Paint Services prepaid $7,000 cash in December 2016 for expenses incurred during the next year. Determine the amount of service revenue and expenses for 2016 using a cash basis accounting system Determine the amount of service revenue and expenses for 2016 using an accrual basis accounting system Determine the amount of service revenue and expenses for 2016 using a cash basis accounting system