View Policies Current Attempt in Progress Metlock Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Metlock Corp. requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2024, 2025, and 2026. 2024 2025 2026 Cash receipts from sales: On 2024 sales $270,700 $168,230 $27,090 On 2025 sales -0- 355,340 90,130 On 2026 sales 429,650 Cash payments for expenses: On 2024 expenses 200,900 62,590 24,730 On 2025 expenses 42,600 145,100 54,980 On 2026 expenses 48,090 b 211,040 Prepayments of 2025 expenses. Prepayments of 2026 expenses.