Accounting Cycle Tutorial Step 5: Adjusting Entries 00000 Understanding the Cash versus Accrual basis Glossary Activity 1.a - Identifying Differences between Cash and Accrual Basis Read each scenario and fill in the Cash basis/Accrual basis table. HINT Orange Lily Law Firm prepays for advertising in the local newspaper. On January 1, the law firm paid 54,200 for six months of advertising Cashless Accrual Cash Payment Expenses Recorded 31 Total Expenses Recorded Aramak iin buraya yazn o 22:27 21 Tocal pencered Safe Home provides house sitting for people while they are away on vacation. Some of its customers pay immediately after the job is finished. Some customers ask that the business send them a bill On December 31. Safe Home has collected $700 from cash-paying customers. Safe Home's remaining customers owe the business $1,000 Cash Basis Cash received Accra Revenue Recorded Total Revenue Recorded Momentous Occasions received $1.600 for services to be performed for the next 8 months on March 31. Basis con Cached Aramak iin buraya yazin O D 400 22.11.22 Te Momentous Occasions received 51,600 for services to be performed for the next 8 months on March 31 CB Anal Cash received Revenue Recorded Total Revenue corded Aramak iin buraya yazn o i 400 28.11.2021