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Mostert Music Company had the following transactions in March: Sold music lessons to customers for $14,700; received $9,300 in cash and the rest on account.

Mostert Music Company had the following transactions in March:

  1. Sold music lessons to customers for $14,700; received $9,300 in cash and the rest on account.
  2. Paid $1,080 in wages for the month.
  3. Received a $500 bill for utilities that will be paid in April.
  4. Received $2,100 from customers as on music lessons to be given in April.

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

How do I know what numbers to input?

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