Based on the following transactions, calculate the revenues and expenses that would be reported $($a$)$ on the cash basis and $($b$)$ on the accrual basis:

a$.$ Credit sales to customers totalled $$48,450.$

b$.$ Cash sales totalled $$148,750.$

c$.$ Cash collections on account from customers totalled $$48,450.$

d$.$ Cost of goods sold during the period was $$25,300.$

e$.$ Payments made to suppliers of inventory totalled $$50,300.$

f$.$ Wages of $$31,650$ were paid during the year. In addition, wages of $$2,100$ remained unpaid at year end; there were no wages unpaid at the beginning of the year.

g$.$ Halfway through the year, a one$-$year insurance policy was purchased at a cost of $$2,830.$

h$.$ At the end of the year the company paid $$3,150$ for the first $3$ months' rent for the upcoming year.