Consider the following set of transactions occurring during the month of May for Bison Consulting Company. For each transaction, indicate the impact on (1) the balance of cash, (2) cash-basis net income, and (3) accrual-basis net income for May. a. Receive $1,500 from customers were Med for services in April.
b. Provide $3,200 Of consulting services to a local business. Payment is expected until June.
c. Purchase Office supplies for $400 on account All supplies are used by the end of May.
d. Pay $600 to workers $400 is for work In May and $200 is for work in April.
e. Pay $200 to advertise in a local newspaper In May.