5/8 80% + 20) If a service (such as training) is provided on account, revenue is recorded in the current period under the a) accrual basis of accounting b) cash basis of accounting c) both the accrual and the cash basis of accounting d) neither the accrual or cash basis of accounting 21) If next month's advertising expense is paid in cash, an expense is recorded in the current period under the a) accrual basis of accounting b) cash basis of accounting c) both the accrual and the cash basis of accounting d) neither the accrual or cash basis of accounting 22) An adjusting entry to record supplies purchased in advance and used up during the month is an example of a(n) a) accrued expense b) accrued revenue c) prepaid expense d) deferred revenue (see next page)