Exercise 1 - Understanding definitions: You are analyzing transactions for Noa Inc. that took place in 2017. The fiscal year ends on December 31. Write next to each item whether it is (1) an accrued expense, (2) accrued revenue, (3) deferred expense, or (4) deferred revenue. (a) (b) (c) (d) (e) (f) A customer prepaid S1,000 in 2017 for services that will be rendered in 2018. Noa Inc. paid $25,000 tuition fees of one of its workers on 11/26/2017 for the Spring 2018 semester. Noa Inc. consulted with its lawyer for 10 hours in December 2017. The lawyer charges S700 per hour. The bill was paid in February 2018. Noa Inc. purchased a ticket for one of its employees on 11/23/2017 for a flight from DC to London on 01/15/2018. The ticket price was S800. Noa Inc. paid S30,000 for 5 courtside season tickets for the Washington Wizards on December 31,2017 for the 2019 season. Noa Inc. provided services to one of its customers in 2017 for $4,000, on account