I need the complete answer for all the requirements. thanks.

Transactions Aug 1 Prepaid insurance for August through December, $3,500 4 Purchased software for cash, $1,400 5 Performed service and received cash, $800 8 Paid advertising expense, $900 11 Performed service on account, $2,800 19 Purchased computer on account, $1,700 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 $1,300 that was collected in advance in July Print Done P3-40A (similar to) Question Help o Prairies Consultants Inc. had the following selected transactions in August 2017: (Click the icon to view the transactions.) Requirements 1. Show how each transaction would be handled using the cash basis and the accrual basis. Assume depreciation expense of $35 for software and $35 for the computer. 2. Compute August income (loss) before tax under each accounting method. 3. Indicate which measure of net income or net loss preferable. Use the transactions on August 11 and August 24 to explain. Requirement 1. Show how each transaction would be handled using the cash basis and the accrual basis. Assume depreciation expense of $35 for software and $35 for the computer. Under each column, give the amount of revenue or expense for August using the cash basis and the accrual basis. (Enter "O" for any transactions that do not affect revenues or expenses. Use parentheses or a minus sign when entering expenses or losses. Prairies Consultants Inc. Amount of Revenue (Expense) for August 2017 Cash Basis Accrual Basis Date August 1