Current Attempt in Progress Larkspur, Inc. had the following transactions in May, its first month of business: (a) Calculate profit for May using cash basis accounting. (b) Calculate profit for May using accrual basis accounting. (a) Cash (b) Accrual Transaction Collected $415 cash from customers for services provided in May. $ $ 1. 2. Billed customers $715 for services provided in May. Received $215 from customers for services to be provided in June. 3. Purchased $315 of supplies on account. All of the supplies were used in May but were paid for in June. 4. $ $ Profit