Mostert Music Company had the following transactions in March:

a$.$ Sold music lessons to customers for $$15,000$; received $$9,600$ in cash and the rest on account.

b$.$ Paid $$1,100$ in wages for the month.

c$.$ Received a $$450$ bill for utilities that will be paid in April.

d$.$ Received $$3,100$ from customers as deposits on music lessons to be given in April.

Required:

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