cash basis and the accrial basis
The Oak Lodge had the following selected transactions during August:
Aug. 1 Prepaid rent for three months,$3,000
5. Paid electricity expenses $700
9. Received cash for the day's room rentals $1,400
14. Purchased six television sets $3,000
23. Served a banquet, receiving a note receivable $1,200
31. Made the
31. Accruel salary expense $900
Show how each transaction would be handled using the cash basis and the accrial basis. Under each column give the amount of revenue or expense for Aug.
Oak Lodge- Amount of Revenue or expense for Aug.
Date Cash Basis Accrual Basis
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