On January 1, 2017, Norma Smith and Grant Wood formed a computer sales and service company in Soapsville, Arkansas, by investing $91,088 cash. The new company, Monty Sales and Service, has the following transactions during January.

1.		Pays $12,000 in advance for 3 months rent of office, showroom, and repair space.
2.		Purchases 44 personal computers at a cost of $1,652 each, 10 graphics computers at a cost of $2,652 each, and 29 printers at a cost of $452 each, paying cash upon delivery.
3.		Sales, repair, and office employees earn $13,688 in salaries and wages during January, of which $4,088 was still payable at the end of January.
4.		Sells 34 personal computers at $2,702 each, 8 graphics computers for $3,752 each, and 19 printers for $652 each; $76,088 is received in cash in January, and $58,184 is sold on a deferred payment basis.
		5. Other operating expenses of $9,488 are incurred and paid for during January; $3,088 of incurred expenses are payable at January 31. Using the transaction data above, prepare (1) a cash-basis balance sheet and (2) an accrual-basis balance sheet as of January 31, 2017.