Sage Hill had the following transactions in May, its first month of business:

$($a$)$ Calculate profit for May using cash basis accounting.

$($b$)$ Calculate profit for May using accrual bas ascounting.

Transaction

Collected $$415$ cash from customers for services provided in May.

Billed customers $$715$ for services provided in May.

Received $$215$ from customers for services to be provided in June.

Purchased $$315$ of supplies on account. All of the supplies were used in May but were paid for in June.

Profit for the month

$($a$)$

Cash

$

$

$($b$)$

Accrual

$$

$$

$$

$$

$