Total Pool Services earned $160,000 of service revenue during 2024. Of the $160,000 earned, the business received $142,000 in cash. The remaining amount, $18,000, was still owed by customers as of December 31. In addition, Total Pool Services incurred $80,000 of expenses during the year. As of December 31, $8,000 of the expenses still needed to be paid. In addition, Total Pool Services prepaid $7,000 cash in December 2024 for expenses incurred during the next year. 1. Determine the amount of service revenue and expenses for 2024 using a cash basis accounting system. 2. Determine the amount of service revenue and expenses for 2024 using an accrual basis accounting system