Accrual versus cash basis of accounting. Explain the difference between the accrual basis of accounting and the cash basis of accounting. What are the major reasons for using accrual accounting?...

Accrual versus cash basis of accounting. Explain the difference between the accrual basis of accounting and the cash basis of accounting. What are the major reasons for using accrual accounting?

Adjustment of three accounts. Give two examples of transactions that involve the adjustment of three accounts, rather than the usual two accounts.