Prescribe the accrual basis of accounting over the cash basis.

Resource: Ch. 4 of Financial Accounting

Complete Exercise BE4-1.

Complete Problems 4-2A & 4-3A.

Answer the following:

·  Commercial accounting and generally accepted accounting principles, generally prescribe the accrual basis of accounting over the cash basis.

·  Describe both bases of accounting and explain the differences.

Submit as either a Microsoft® Excel® or Microsoft® Word document

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