Question 3 Incomplete answer Marked out of 3.00 P Fag question Accrual Basis of Accounting versus Cash Basis of Accounting On December 31, John Bush completed his first year as a financial planner. The following data are available from his accounting records: Fees biled to clients for services rendered $137,000 Rent expense for year just ended $12,000 Cash received from clients 115,000 Uolity expense incurred 3,100 Supplies purchased for cash 9.000 Utlity bills paid 3,200 Supplies used during the year 6,800 Salary earned by assistant 39,000 Cash paid for rent rent is paid through Salary paid to assistant 35.000 Feb of next year 14.000 a. Compute John's net income for the year just ended using the accrual basis of accounting $0 b. Compute John's net income for the year just ended using the cash basis of accounting. 50 C. Which net income amount is computed in accordance with generally accepted accounting principles? Please answer all parts of the question Previous Save Answers MacBook Pro