A newsagency had the following transactions during the month of August: Transaction detail Cash sales made to customers August 25,000 13,450 Cash received from customers for magazine subscriptions starting in September 8,225 Cash received from customers paying off accounts receivable (work performed in previous months) Credit sales made to customers in August 8,900 Cash payments for operating expenses 5,400 Accrued expenses at August 31st 12,400 Cash payments to suppliers to pay off accounts payable (transactions in 3,450 previous months, i.e. before August 1st) What's the difference between cash profit and accrual-based profit for the month of August? Which profit is higher - cash or accrual-based? $31,825. Cash profit. $21,725. Cash profit. $28,500. Accrual-based. $8,275. Cash profit