Deano owns and manages a sports shop (accrual method of accounting is used). On 25 August 20XX Alex (uses the cash method of accounting) paid Deano in advance by cheque for a new rugby ball for $100 as it was signed by the legendary player Charlie. The rugby ball has a cost of $30. Alex said that he will pick up the ball on 1 September 20XX. Assuming that you are the accountant for both Deano and Alex, advise them as to the accounting recording obligations of this transaction as at 31 August 20X (hint: your answer should also include the journal and accounts affected)