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 Cash paid for salaries Amounts customers owe the company at the beginning of the year (A/R) Amounts customers owe the company at the end of the year (A/R) Salaries payable at the beginning of the year Salaries payable at the end of the year $525,000 262,000 25,100 32,500 10,000 12,500 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: $