through the beet Question 3 (30 marks) Calvin's Cleaning engaged you to prepare yearly financial statements for the year ended 30 June 2020. The selected transactions that occurred during the financial year are listed below. Ignore GST. Service performed on credit during the year $10,000 Service Fees collected during the year $130,000 Cash payments made for salaries, rent, insurance, and other expenses incurred during the year $1 10,000. On June 10, 2020, a client paid $5000 in advance for services to be rendered during the next financial period. Salaries owing but not yet paid amount to $5000. Expenses of $7000 were prepaid (not included in the $1 10 000) on 30 June 2020. Question 5 Calculate profit under i). Cash basis accounting ii). Accrual basis accounting (20 marks) 66 H - B I A X x Q . = =