Daube Company's operations for the month of July are summarized as follows: A. Provided $7,600 of services on account. B. Received $3,700 cash from customers for services provided in July. C. Received $1,900 cash for services to be provided in August. D. Received $3,200 cash from customers on account for services provided in June. E. Paid June's warehouse rental bill on account in the amount of $1,400. F. Received July's warehouse rental bill of $1,500; set it aside to be recorded at a later date. Required: a. Determine the net income for July using the cash basis of accounting. b. Determine the net income for July using the accrual basis of accounting. Mostert Music Company had the following transactions in March: points a. Sold music lessons to customers for $10,600; received $6,200 in cash and the rest on account. b. Paid $640 in wages for the month. c. Received a $320 bill for utilities that will be paid in April. d. Received $2,150 from customers as deposits on music lessons to be given in April. Skipped eBook Based on the information above, prepare a cash basis and an accrual basis income statement. Print Complete this question by entering your answers in the tabs below. Cash Basis Accrual Basis Based on the information above, prepare a cash basis income statement MOSTERT MUSIC COMPANY Cash Basis Income Statement Revenues Cash Sales