Cash versus accrual basis of accounting Dave Drive, owner of Street Design Landscaping, engaged you to prepare financial statements for the year ended 30 June 2024, on both the cash basis and the accrual basis. This was the end of the first year of operations, The following data are a summary of selected transactions that occurred during the year. Ignore GST. 1. Fees of $320 000 were collected for services provided during the year to a number of City Councils. 2. There was $36 000 in receivables at 30 June 2024 for services performed and invoiced but not yet received