A) In? January, Top Tech provided and billed clients for $50,000of consulting services. It was paid for these services inMarch.

B) In? January, Top Tech collected $52,000 from clients forservices provided during the month.

C) In? February, Top Tech provided and billed clients for$42,000 of consulting services. It collected $11,00 in the currentmonth and the remaining amount in March.

D) In? March, Top Tech collected $40,000 from clients forservices provided during the month and billed clients for anadditional $31,000 for services provided.

E) Top Tech pays employees at the end of each month for serviceprovided. Monthly payroll was ?$11,000, $14,000?, and $19,000 in?January, February, and? March, respectively.

F) Top Tech pays its utility bills at the end of each month.Utility bills totaled ?$1,000, $600?, and $750 in? January,February, and? March, respectively.

G) Top Tech hired an independent contractor who provided $1,350of services in February. The contractor was paid in March.

Determine Top Tech?'s net income for each month from Januarythrough March under both the cash and the accrual bases ofaccounting. Explain any difference in total net income under cashversus accrual accounting for the three months.

Calculate ?Top Tech's net income or net loss for each month fromJanuary through March under both the cash and the accrual bases ofaccounting. ?(Use parentheses or a minus sign for a net? loss.)

Total net income over the three months is _____ (HIGHER ORLOWER) under the accrual basis due to _____ :

A) Services provided and billed in February that were partiallycollected in February and the remainder in March

B) Services provided in January for which clients did not payfor until March

C) Services provided in March for which clients were billed butcash was not yet collected

D) Payroll and utilities expenses that were paid in the samemonth the benefits were consumed

E) Payroll expenses that were paid in the month after thebenefits were consumed