Speedy delivery company provides next-day delivery across the southeastern United States. During May, Speedy incurred $120,000 in fuel costs. Speedy paid $ 90,000 of the fuel cost in May, with the remainder paid in June. In addition, Speedy paid $15,000 in May to another fuel supplier in effort to build its supply of fuel. Required: Calculate the amount of expense recognized in May under a) the cash-basis of accounting and b) the accrual-basis of accounting?