Short Exercises S-F:3-1 Comparing cash and accrual basis accounting for expenses (Learning Objective 1) The Pink Peonies Law Firm prepays for advertising in the local newspaper. On January 1, the law firm paid $3,000 for 10 months of advertising How much advertising expense should Pink Peonies Law Firm record for the two months ending February/28 under the a. cash basis? b. accrual basis? S-F:1-1 Identifying users of accounting information (Learning Objective 1) For each user of accounting information, identify if the user would use financial accounting or managerial accounting. a. investor b. banker c. IRS d. manager of the business e. controller f. stockholder human resources director h. creditor