Chelsea Technology maintains its records using cash-basis accounting. Consider the following: During the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. At the beginning of the year, customers owe Chelsea $1,000. By the end of the year, customers owe $6,600. At the beginning of the year, Chelsea owes salaries of $5,600. At the end of the year, Chelsea owes salaries of $3,300. Determine cash-basis net income and accrual-basis net income for the year