Record each of the following transactions on 1. the Cash Basis, 2. The Modified Accrual Basis, and 3. the Accrual Basis.

January 1 Billed customers $4,000 for services rendered

3 Purchased $500 of supplies on account

5 Purchased a truck costing $30,000 (to be paid on Feb 3)

11 Collected $2,000 from customers on account

15 Recorded accrued wages to date, $3,000

17 Paid for supplies

21 Paid wages

February 3 Paid for the truck

5 $200 of supplies have been used

6 Depreciation on the truck for the month was $500.

Set it up like this:

Date Accounts Cash Basis (Dr,Cr) Modified Accrual Basis (Dr, Cr) Accrual Basis (Dr,Cr)

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