11 AaB... A A A l E, H - . AaBbco A A + TER PRO Question 2.4 Academic Consultants Inc. had the following selected transactions in August 2016: Transactions Mon th Aug Da Y 1 Prepaid insurance for August through December $1,000 4 5 8 11 Purchased software for cash $800 Performed service and received cash $900 Paid advertising expense $300 Performed service on account, $3,000 19 Purchased computer on account_$1,600 24 Collected for the August 11 service 26 Paid account payable from August 19 29 Paid salary expense, $900 31 Adjusted for August Insurance expense (see Aug.1) 31 Earned revenue of $800 that was collected in advance in July 1 Show how each transaction would be handled using the cash basis and the accrual basis Under eatb e BEER 125