RTY is a calendar year corporation On December 12, RTY billed a client $17,800 for services rendered during October and November It had not received payment by December 31. On December 10, RTY received a $4,000 check from a tenant that leases office space from the corporation. The payment was for next year's January and February rent. Required: a. If RTY is a cash basis taxpayer, how much income should it recognize from the given transactions this year? b. If RTY is an accrual basis taxpayer, how much income should it recognize from the given transactions this year? Complete this question by entering your answers in the tabs below. Required A Required B If RTY is a cash basis taxpayer, how much income should it recognize from the given transactions this year? Amount Services performed Prepaid rent income RTY is a calendar year corporation On December 12, RTY billed a client $17,800 for services rendered during October and November It had not received payment by December 31. On December 10, RTY received a $4,000 check from a tenant that leases office space from the corporation. The payment was for next year's January and February rent. Required: a. IfRTY is a cash basis taxpayer, how much income should it recognize from the given transactions this year? b. IfRTY is an accrual basis taxpayer, how much income should it recognize from the given transactions this year? Complete this question by entering your answers in the tabs below. Required A Required IF RTY is an accrual basis taxpayer, how much income should it recognize from the given transactions this year? Amount Services performed Prepaid rent income