help E3-4 Identifying Accrual Basis Expenses (LO1, LO2) Under accrual basis accounting, expenses are recognized when incurred, which means the activity giving rise to the expense has occurred. Required: Assume the following transactions occurred in January 2017. For each of the transactions, if an expense is to be recognized in January, indicate the amount Amount a. b C Transaction Gateway pays its computer service technicians $97,000 in salary for work done in January 2017 Answer from Gateway's standpoint. At the beginning of January, Turnboldt Construction Company pays $5,550 in rent for February to April 2017 Assume that McGraw-Hill Education publisher of this textbook and Business Week-use $1,350 worth of electricity and natural gas in January for which it has not yet been billed. Pooler Company receives and pays in January a $1,850 invoice from a consulting firm for services received in January. The campus bookstore receives consulting services at a cost of $5,700. The terms indicate that payment is due within thirty days of the consultation Schergevitch Incorporated has its delivery van repaired in January for $350 and charges the amount on account. d. f