Mostert Music Company had the following transactions in March: Sold music lessons to customers for $11.950; received $6,750 in cash and the rest on account. Paid $850 in wages for the month. Received a $540 bill for utilities that will be paid in April. Received $1,200 from customers as deposits on music lessons to be given in April. Based on the information above, prepare a cash basis and an accrual basis income statement