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For each transaction, determine the amount of revenue or expense, if any, that is recorded under accrual-basis accounting and under cash-basis accounting. (Leave no cells

For each transaction, determine the amount of revenue or expense, if any, that is recorded under accrual-basis accounting and under cash-basis accounting. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)

  Accrual-Basis Cash-Basis
  Transaction Revenue Expense Revenue Expense
1.  Receive cash from customers at the time of service, $2,700. $   $   $   $   
2.  Issue common stock for cash, $5,000.        
3.  Receive cash from customers who were previously billed, $1,200.        
4.  Record depreciation of equipment, $500.        
5.  Pay workers’ salaries for the current month, $600.        
6.  Pay for rent one year in advance, $2,400.        
7.  Repay a long-term note to the bank, $2,000.        
8.  Pay workers’ salaries for the previous month, $750.        
9.  Pay dividends to stockholders, $400.        
10.  Purchase office supplies for cash, $440.        

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