Cash vs Accrual Homework Song Todos os diario co Problem 1 m o borobilo Rachel's Auto Detailers maintains its records on the cash basis. During 2018, Molly's collected $72,000 from customers and paid $21,000 in expenses. Depreciation expense of $5,000 would have been recorded on the accrual basis. Over the course of the year, accounts receivable increased $4,000, prepaid expenses decreased $2,000, and accrued liabilities decreased $1,000. Determine cash-basis net income and accrual-basis net income for the year. 000.00