Question 2.4 Academic Consultants Inc. had the following selected transactions in August 2016: 9. Show how each transaction would be handled using the cash basis and the accrual basis. Under each column, give the amount of revenue or expense for August. Journal entries are not required. Use the following format for your answer and show your computations. 10. Compute August income (loss) before tax under each accounting method. 11. Explain which measure of net income or net loss is preferable