In its first year of operations, Wildhorse Company recognized $$29,500$ in service revenue, $$8,100$ of which was on account and still outstanding at year$-$end. The remaining $$21,400$ was received in cash from customers.

$($a$)$

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Calculate the first year's net earnings under the cash basis of accounting, and calculate the first year's net earnings under the accrual basis of accounting.

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$($b$)$

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