Mostert Music Company had the following transactions in March:

a.	Sold music lessons to customers for $15,250; received $10,050 in cash and the rest on account.
b.	Paid $780 in wages for the month.
c.	Received a $660 bill for utilities that will be paid in April.
d.	Received $4,500 from customers as deposits on music lessons to be given in April.

1.	Based on the information above, prepare a cash basis and an accrual basis income statement