The following transactions have occurred for CSI Corp during the month of April:

April 1: Purchased a one-year insurance policy for cash of $5,500.

April 4: Paid utilities bill received last month for $645.

April 10: Performed a service on account of $3,100.

April 16: Paid $9,250 for bi-weekly salaries to employees.

April 19: Received $1,700 from a customer on account.

April 23: Received the amount owing from the April 10 transaction.

April 28: Received a bill for online advertising used in the month of April, $1,310, due in 30 days.

April 30: Received $4,000 cash in advance for a job to be completed in the month of May.

Instructions

Prepare journal entries (in good form) to record these transactions under

1) The accrual basis of accounting

2) The cash basis of accounting