1 of 4 5//10 Based on the following transactions, answer the following questions. i. Purchased inventory with a cost of $20,700 on account. ii. Sales on account to customers totalled $59,600. iii. Payments made to employees for wages totalled $13,100. iv. Cash collections from customers settling their accounts totalled $42,600. v. Invoice received from the utility company for $4,500 is due in 30 days. vi. Payments totalling $17,900 were made to suppliers to settle part of the balance owing to them. vii. Received a deposit of $4,700 from a customer for goods to be delivered next month. What is revenue, expense and income based on accrual