Accrual-Basis Cash-Basis Revenue Expense Revenue Expense Transaction 1. Receive cash from customers in advance, S430. 2. Pay utilities bill for the previous month, $65. 3. Pay for insurance one year in advance, $1,150 4. Pay workers' salaries for the current month, 5630 5. Incur costs for employee salaries in the current month but do not pay, 5830 6. Receive cash from customers at the time of service, 52,050 7. Purchase office supplies on account, $160. 8. Borrow cash from the bank, $2,300. 9. Receive cash from customers for services performed last month, 5580 10 Pay for advertising to appear in the current month, $280