Accrual- and Cash-Basis Expenses Speedy Delivery Company provides next-day delivery across the southeastern United States. During May, Speedy incurred $135,400 in fuel costs. Speedy paid $89,880 of the fuel cost in May, with the remainder paid in June. In addition, Speedy paid $15,940 in May to another fuel supplier in an effort to build up its supply of fuel. Required: 1. Calculate the amount of expense recognized in May under cash-basis accounting. 2. Calculate the amount of expense recognized in May under accrual-basis accounting