Exercise 3-18 Novak, M.D., maintains the accounting records of Novak Clinic on a cash basis. During 2017, Dr. Novak collected $155,992 from his patients and paid $60,414 in expenses. At January 1, 2017, and December 31, 2017, he had accounts receivable, unearned service revenue, accrued expenses, and prepaid expenses as follows. (All long-lived assets are rented.) Accounts receivable Unearned service revenue Accrued expenses Prepaid expenses January 1, 2017 $8,733 2,669 3,096 2,035 December 31, 2017 $17,087 4,464 2,024 2,924 Prepare a schedule that converts Dr. Novak's "excess of cash collected over cash disbursed" for the year 2017 to net income on an accrual basis for the year 2017 NOVAK, M.D Conversion of Cash Basis to Accrual Basis For the Year 2017