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10. Compare the cash and accrual methods of accounting for the following events: A. Purchased...

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Accounting

10. Compare the cash and accrual methods of accounting for the following events:

A. Purchased new equipment, paying $50,000 cash and giving a not payable for $30,000 due next year.

B. Paid $3,600 for a three-year service contract on the new equipment.

C. Colleted $1,800 for services to be provided over the current and following years.

D. Received a $3,000 note from a customer for services provided in the current year. The market value of the note was only $2,400.

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