D E) on the books or the shipping company. on the books of both companies until the transaction is complete. I Compute Cash Basis Net Income, and Accrual Basis Net Income with the following information (numbers will be different): Buck Owens Inc. had the following transactions during 2006. - Collected $3,400 for services to be performed in 2007 - Sales of $6,400 on account - Paid $750 cash in salaries - Purchased airline tickets for $500 in December for a trip to take place in 2007 Page 2