I. Record the following transactions:

$1.$ AA received cash $$300,000$ by issuing additional common stock

$2.$ Received cash from room sales of $$20,000($i$.$e$.,$ earnings increased$)$

$3.$ Sold rooms on account $($i$.$e$.,$ accounts receivable$),$ $$3,000$

$4.$ Purchased van by cash, $$30,000$

$5.$ Purchase of office equipment on account $($i$.$e$.,$ accounts payable$),$ $$4,000$

$6.$ Received $$1,000$ cash by issuing additional common stock

$7.$ Paid cash $$4,000$ for existing accounts payable $($i$.$e$.,$ paid back current debt$)$

$8.$ Received cash $$5,000$ from room sales $($i$.$e$.,$ earnings increased$)$

$9.$ Payment of wages with cash, $($i$.$e$.,$

earnings decreased$)$

II$.$Answer the following questions

$1.$ What is the difference between "accounting" and "bookkeeping"?

$2.$ What is "cost principle"?

$3.$ What is "accural basis accounting"?

$4.$ What are the differences between accrual basis accounting and cash basis accounting?

$5.$ What are the differences between financial accounting and managerial accounting?