1. (2pts) Revenue recognition accrual basis vs. cash basis: Ring The Bells, Inc. provides doorbell repair services to customers and began operations in February 2018. On March 4th, 2018, Ring The Bells, Inc. collected $2,400 in cash from customers for services performed in February 2018. On March 11th, Ring The Bells, Inc. provided $690 worth of services to customers, all of whom paid in cash. On March 25th, 2018 Ring the Bells provided additional services worth $3,470 on account to customers, which will not be collected until April. (1pt) Using accrual-basis accounting, how much revenue would Ring the Bells record for March 2018? Briefly explain or show how you got your answer. (1pt) Using cash-basis accounting, how much revenue would Ring the Bells record for March 2018? Briefly explain or show how you got your answer. a. b. 2. (2pts) Expense recognition accrual basis vs. cash basis: Ring The Bells, Inc. provides doorbell repair services to customers and began operations in February 2018. On March 2o, 2018, Ring The Bells, Inc. paid $800 in cash to creditors for supplies purchased on account on February 1st and used in February 2018. On March 15thRing The Bells, Inc. paid $1,850 in cash to employees for work done March 1t-15th. On March 29th, 2018 Ring the Bells received a bill of $720 from the utility company for March utilities used which will not be paid until April. (1pt) Using accrual-basis accounting, how much in expenses would Ring the Bells record for March 2018? Briefly explain or show how you got your answer. (1pt) Using cash-basis accounting, how much in expenses would Ring the Bells record for March 2018? Briefly explain or show how you got your answer. a. b