Part 1. Goneral Concepta: 1. Cash va. Accrual Accounting: (Estimatod time: 8 minutes) Answer the following four queations based on the fact pattorn bolow: Jean is a computer programmer. On June 25th she finlahed developing a tax software product and began offering it onllne and In her retall store. On July 2nd, Matt purchased her product online by VISA credit card. VISA card transactions are treated same as rocolving cash. Mary visited the retall store on July 10 th. She was impreased so she purchased the product that same day but did not pay Joan until August 15 th. Answer questions using an actual date: a. Using the cash method, when would Jean record her sale to Mary? b. If Jean uses the acerual mothod of accounting, when does she record her sale to Mary? c. Under the cash method, when would Jean record Matt's sale? d. If Jean uses the accrual method, when would she rocord Matts sale? Part 2. Accounting authoritios: (Estimated time: 2 minutes) Enter or circle the correct answer: 1. Are U.S. accounting rules made by FASB or GAAP? 2. Identify intornational accounting rulos: IFRS OR LASB