Amber Ltd had the following transactions during June:

– 3 Paid electricity bill, $480

– 5 Purchased inventory on credit, $2500

– 7 Sold goods on credit, $12 000

– 9 Prepaid insurance for June to October, $6000

– 12 Paid salary expense, $2500

– 15 Paid account payable from June 5

– 22 Purchased furniture for cash, $8500

– 26 Purchased inventory on credit, $3400

– 31 Recorded adjusting entry for June insurance

– 31 Accrued June salary of $1800.

Explain how each transaction would be handled under the cash basis and the accrual basis of accounting