A. Study the following transactions of Bluebells Ltd. i. The company delivered a product worth $270,000 on 30 June 2019. 65% of the selling price was received on the same day, but another 35% will be received in July 2019. ii. Products worth $500,000 were delivered to a customer on 28 June 2019. 20% of the price was received on 2 May 2019 as a deposit. Another 80% will be received on 3 July 2019. iii. Salary incurred for June was $150,000 and was paid in cash on 5 July 2019. iv. Rent for June and July 2019 was paid on 1 June 2019. Each month's rent amount is $50,000. [TASK 1] For each transaction, using the accrual accounting principle, determine the amount of revenues or expenses that should be recognised in the income statement for the month ended 30 June 2019. Make sure that you indicate if the amount is revenue or expense. [TASK 2] For each transaction, using the cash accounting principle, determine the amount of cash received or paid that should be reported in the statement of cash flows for the month ended 30 June 2019. Make sure that you indicate if the amount is an inflow or outflow. [8 marks] B. The application of the accrual accounting principle and the cash accounting principle in recognising revenues and expenses could result in the amount of profit reported in a period to be different from the total cash in the period. Explain why this difference could happen. [TASK] Explain your answer by using one of the transactions in part A above as an example. [5 marks]