Problem 3-1A (Algo) Determine accrual-basis and cash-basis revenues and expenses (LO3-1, 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. Transaction Accrual-Basis Cash-Basis Revenue Expense Revenue Expense t Receive cash from customers in advance of services to be provided. $470 S $470 5 Incur costs for employee salanes in the current period but do not pay $870 2 Pay utibes bill for the previous period, 585 3 Pay for insurance in advance of the period to be covered, $1,350. 4 Pay workers' salaries for the current period, $670) 6 Receive cash from customers at the time of service, $1,850 7. Purchase office supplies on account. $200, 8 Borrow cash from the bank, $2,700 9 Receive cash from customers for services performed in the previous period. $620. 10. Pay for advertising to appear in the current period, $320 85 $ 1.350 $ 670 S 870 $ 1.850 $ 200 2,700 620 320 Check r