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Cheisea Technology maintains its records using cash-basis accounting. Consider the following: - During the year, the company recelved cash from customers, $40,000, and paid cash

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Cheisea Technology maintains its records using cash-basis accounting. Consider the following: - During the year, the company recelved cash from customers, $40,000, and paid cash for salarie5, $22,000. - At the beginning of the year, customers owe Cheisea $1,000. By the end of the year, customers owe $6,000. - At the beginning or the year, Chelsea owes salaries of $5.000. At the end of the year, Chelsea owes salarles or $3,000. Determine cash-basis net income and accrual-basis net income for the year

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