Daube Company's operations for the month of July are summarized as follows: Provided $8,600 of services on account. Received $3,800 cash from customers for services provided in July. Received $1,100 cash for services to be provided in August. Received $5,100 cash from customers on account for services provided in June. Paid June’s warehouse rental bill on account in the amount of $1,200. Received July’s warehouse rental bill of $1,300; set it aside to be recorded at a later date. Required: Determine the net income for July using the cash basis of accounting. Determine the net income for July using the accrual basis of accounting.