You must use the APUS library to research this topic and post a reference at the

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You must use the APUS library to research this topic and post a reference at the end of your initial post.
Answer the following questions.
What are the differences between cash and accrual basis accounting?
Explain the major differences between the 2 methods.
Compose ONE transaction example of a business transaction that involves performing a service and then collecting the cash at a later date. I suggest you construct a revenue transaction where the sale in one month and the receipt of cash in the next month. Describe your transaction in detail including the date of the revenue was earned and the date the cash was collected.
Your example must be recorded differently under the 2 methods.
Use Journal entries with dates and amounts to show when and how the traction would be recorded Under the cash basis of accounting.
Use Journal entries with dates and amounts to show when and how the traction would be recorded Under the accrual basis accounting.
This is the format you need to use. Do your entries in excel and copy into your post.
17/1/2022Debit account goes here111 Debit amount Credit account goes here311 Credit amount
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