Connect StrengthsQuest Code - chambcak@uni.edu - Univ Homework A My Clifton Strengths Saved Help Save & Exit Sub Check my work Required: For each transaction, determine the amount of revenue or expense, if any, that is recorded under accrual-basis accounting and under cash-basis accounting. Accrual-Basis Cash-Basis Revenue Expense Revenue Expense Transaction 1. Receive cash from customers at the time of service, $3,400, 2. Issue common stock for cash, $5,700. 3. Receive cash from customers who were previously billed, $1,550. 4. Incur utilities cost in the current month but do not pay $570. 5. Pay workers' salaries for the current month, S670. 6. Pay for rent one year in advance, $3,240. 7. Repay a long-term note to the bank. $2.700. 8. Pay workers' salaries for the previous month, $820 9. Pay dividends to stockholders, $470. 10. Purchase office supplies for cash, $510.