The Picture Patch is a photography business that films videos on business occasions. In its first year of operations, The Picture Patch generated revenue of $228,000 for services provided, $126,500 of which was on account and still outstanding at the year-end at 30 June 2021. The Picture Patch also received $15,000 cash in advance on 25 June 2021 for filming a major corporate event in August 2021.

How much service revenue would The Picture Patch has at the year ended 30 June 2021 under:

a) the cash basis of accounting? Show calculation. 

b) the accrual basis of accounting? Show calculation.