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Problem $3-1$A $($Algo$)$ Determine accrual$-$basis and cash$-$basis revenues and expenses $($LO$3-1,3-2)$

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 in the current period.

$\backslash$table$[[$Transaction$,$Accrual$-$Basis,Cash$-$Basis$],[$Revenue$,$Expense,Revenue,Expense$],[1.$ Receive cash from customers in advance of services to be provided, $$450.,,,,],[2.$ Pay utilities bill for the previous period, $$75.,,,,],[3.$ Pay for insurance in advance of the period to be covered, $$1,250.,,,,],[4.$ Pay workers' salaries for the current period, $$650.,,,,],[5.$ Incur costs for employee salaries in the current period but do not pay, $$850.,,$:$.,,],[6.$ Receive cash from customers at the time of service, $$1,950.,,,,],[7.$ Purchase office supplies on account, $$180.,,,,],[8.$ Borrow cash from the bank, $$2,500.,,,,],[9.$ Receive cash from customers for services performed in the previous period, $$600.,,,,],[10.$ Pay for advertising to appear in the current period, $$300.,,,,]]$

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