S&C Company services elevators at a fee of $175 per month.Clients pay in advance every quarter - and the company currently services 100 buildings.During the first quarter of the year,S&C collected all service fees on January 1; they also incurred the following expenses: $8,000 in January,$15,000 in February,and $7,000 in March.They paid half of the expense total in February and the rest in March,they did not pay expenses in January.Determine S&C's net income for each month,as well as the quarterly total,under both the cash and accrual basis.Is the quarterly total the same? If it is different,what would account for this?

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The Answer of S&C Company services elevators at a fee of $175 per month.Clients pay in advance every quarter - and the company currently services 100 buildings.During the first quarter of the year,S&C collected all service fees on January 1; they also incurred the following expenses: $8,000 in January,$15,000 in February,and $7,000 in March.They paid half of the expense total in February and the rest in March,they did not pay expenses in January.Determine S&C's net income for each month,as well as the quarterly total,under both the cash and accrual basis.Is the quarterly total the same? If it is different,what would account for this?

S&C Company Services Elevators at a Fee of $175 Per