5. Compute Cash Basis Net Income, and Accrual Basis Net Income with the following information (numbers will be different): Buck Owens Inc. had the following transactions during 2006 - Collected $3,400 for services to be performed in 2007 - Sales of $6,400 on account - Paid $750 cash in salaries - Purchased airline tickets for $500 in December for a trip to take place in 2007 - Sales of $500 for services performed in 2006 and collected in cash in 2006 A) ) C) D) 5. Compute Cash Basis Net Income, and Accrual Basis Net Income with the following information (numbers will be different): Buck Owens Inc. had the following transactions during 2006 - Collected $3,400 for services to be performed in 2007 - Sales of $6,400 on account - Paid $750 cash in salaries - Purchased airline tickets for $500 in December for a trip to take place in 2007 - Sales of $500 for services performed in 2006 and collected in cash in 2006 A) ) C) D)