Use the following to answer questions 5 - 8 Determine the amount to recognize in FEBRUARY...

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Use the following to answer questions 5 - 8 Determine the amount to recognize in FEBRUARY for accrual basis and for cash basis. 5 In February, paid $5,000 invoice for advertising done in late January. 6 Provided $10,000 of consulting services in February, will be paid in March. 7 Paid workers $9,000 in February ($1,000 for work done in January and $8,000 for work done in February). 8 In February paid $500 for office supplies and used $300 of supplies in February. Accrual basis Cash basis Use the following to answer questions 5 - 8 Determine the amount to recognize in FEBRUARY for accrual basis and for cash basis. 5 In February, paid $5,000 invoice for advertising done in late January. 6 Provided $10,000 of consulting services in February, will be paid in March. 7 Paid workers $9,000 in February ($1,000 for work done in January and $8,000 for work done in February). 8 In February paid $500 for office supplies and used $300 of supplies in February. Accrual basis Cash basis

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