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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,

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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. c. Used $250 of supplies. d. Collected $3,000 from customers in payment of their accounts. e. Purchased equipment for $10,000 cash. f. 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, enter " 0 ". Enter negative values as negative numbers

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