4G liu. 6:39 References Assignment Question(s): (5 Marks) Q1- Provide an example of each title here and then record the journal entries (2 Marks) Following is the first given answer 1-Purchasing Equipment for cash Given answer: ABC company purchased equipment for SAR20,000 cash. Equipment 20,000 Cash 20,000 2-Issuing common stocks receiving cash. 3-Providing service receiving cash. 4.Purchasing supplies on credit. 5-Borrowing money from a bank 6-Paying employees their salaries. Q2. What is the accrual basis of accounting? When should revenue and expense be recognized in the accrual basis? Provide an example. (1 Mark)