R Wildhorse Corp. sells $6470 of goods on account in the current year and collects $3470 of this. It incurs $4200 in expenses on account during the current year and pays $2600 of them. Wildhorse would report what amount of net income under the cash and accrual bases of accounting, respectively? O $3470 on the cash basis and $4200 on the accrual basis O $2270 on the cash basis and $3000 on the accrual basis O $3000 on the cash basis and $2270 on the accrual basis O $870 on the cash basis and $2270 on the accrual basis U 5.7

Wildhorse Corp. sells $6470 of goods on account in the current year and collects $3470 of this. It incurs $4200 in expenses on account during the current year and pays $2600 of them. Wildhorse would report what amount of net income under the cash and accrual bases of accounting, respectively? $3470 on the cash basis and $4200 on the accrual basis $2270 on the cash basis and $3000 on the accrual basis $3000 on the cash basis and $2270 on the accrual basis $870 on the cash basis and $2270 on the accrual basis