# Required: For each transaction, determine the amount of revenue or expense, if any, that is recorded...

###### Question:

Required: For each transaction, determine the amount of revenue or expense, if any, that is recorded under accrual basis acc cash-basis accounting in the current period. Accrual-Basis Cash-Basis Revenue Expense Revenue Expense Transaction 1. Receive cash from customers in advance, $430. 2. Pay utilities bill for the previous month,$65. 3. Pay for insurance one year in advance, $1,150. 4. Pay workers' salaries for the current month,$630 5. Incur costs for employee salaries in the current month but do not pay $830, 6. Receive cash from customers at the time of service,$2.050. 7. Purchase office supplies on account, $160. 8. Borrow cash from the bank,$2,300. 9. Receive cash from customers for services performed last month, $580. 10. Pay for advertising to appear in the current month,$280.

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