Melodys Piano School operations for the month of May were limited to the following transactions:

	Provided $1,350 of piano lessons to students who paid in cash.
	Provided $1,060 of piano lessons on account.
	Collected $795 from students who took piano lessons during April.
	Paid Aprils piano rental bill of $600.
	Received Mays piano rental bill of $650 and set it aside for payment in June.

What is Melody's Net Income for May using the cash basis of accounting?

What is Melody's Net Income for May using the accrual basis of accounting?