A dance studio accepis $1.500 to provide a series of donc lenon lo u youth group during the month of July. The studio records the revenue in July which the lessons take place. The studio incurrent, hilines and salarter expenses in July related to the youth group lessons. The studio record those expenses in August when it pay for them. One or both of these decision Miche are both examples of accrual accounting ve accounting equation Victoftheniching prince Volete the revenue recognition princil