Use the following to answer questions 1 - 4 A company maintains its records using cash basis accounting; however, their bank wants to see their accrual basis income statement. For simplicity, we assume only one expense account (salaries). The following is data gathered from their records. Cash received from customers $852,600 Cash paid for salaries 475,300 Amounts customers owe the company at the beginning of the year (A/R) 64,000 Amounts customers owe the company at the end of the year (A/R) 59,000 Salaries payable at the beginning of the year 32,000 Salaries payable at the end of the year 47,000 All sales are on account. Salaries are recorded before they are paid. CREATE A T-ACCOUNT FOR ACCOUNTS RECEIVABLE AND SALARIES PAYABLE TO HELP ANSWER #1&2 1. Determine the amount of accrual basis revenue earned during the year: $ 2 Determine the amount for accrual basis salaries expense for the year: $ 3. Determine accrual basis net income: $ 4. Determine cash basis net income: $