Accrual and Cash-Basis Accounting The following are several transactions for Halpin Advertising Company a. Purchased $1,000 of supplies. b. Sold $5,000 of advertising services, on account, to customers. Used $250 of supplies. d. Collected $3,000 from customers in payment of their accounts. e. Purchased equipment for $10,000 cash. 1. Recorded $500 depreciation on the equipment for the current period, Required: Identify the effect, if any, that each of the above transactions would have on net income under cash basis accounting and accrual basis accounting. If your answer is zero, entero. Enter negative values as negative numbers Effect on Net Income Item Cash Basis of Accounting Accrual basis of Accounting b. CC d. . f