Compute Mary's income or deductions for 2021 using (1) the cash basis and (2) the accrual basis for each of the following.

If required, round your final answers to the nearest dollar. Click here to access cost recovery tables to use for this problem.

		Cash Basis			Accrual Basis
a.	In May 2021, Mary paid a license fee of $1,200 for the period June 1, 2021, through May 31, 2022.	$fill in the blank 1			$fill in the blank 2
b.	In December 2021, Mary collected $10,000 for January 2022 rents. In January 2022, Mary collected $2,000 for December 2021 rents.	$fill in the blank 3			$fill in the blank 4
c.	In June 2021, Mary paid $7,200 for an office equipment service contract for the period July 1, 2021, through December 31, 2022.	$fill in the blank 5			$fill in the blank 6
d.	In June 2021, Mary purchased office furniture for $273,000. She paid $131,000 in cash and gave a $142,000 interest-bearing note for the balance. The office furniture has a MACRS cost recovery period of seven years. Mary did not make the 179 election and elected not to take additional first-year depreciation.