4. Expense recognition-accrual basis vs. cash basis (1.5pts): Not So Strong, Inc. provides athletic training services to customers. The firm has a monthly accounting period. The accountant for Not So Strong noted the following events which took place during July 2022: i. On July 11th, received a utilities bill for $1,088 for June 2022 utilities. The firm paid this bill on July 23 ii. On July 15th, paid $25,840 in cash for July 1st-15th 2022 wages. On July 28th, paid $14,400 in cash in advance for rent, covering rent for the period August 2022 February 2023. a. Using cash-basis accounting, how much in expenses would Not So Strong record for July 2022? Briefly explain or show how you got your answer. b. Using accrual-basis accounting, how much in expenses would Not So Strong record for July 2022? Briefly explain or show how you got your answer.