Question 5 (2 points) 5. [4 Points) A city engages in the following transactions. For each transaction, indicate the amount of expenditure/expense that the city should recognize in 2020 first using the cash basis, and then using the accrual basis. a. Employees carned $120,000 in salaries and wages for the last five days in December 2020. They were paid on January 5, 2021. b. A consulting actuary calculated that per an accepted actuarial cost method, the city should contribute $230,000 to its firefighters' pension fund for benefits earned in 2020. However, the city contributed $210,000; the amount budgeted at the start of the year, The city acquired four police cars, paying $45.000 for each car. The vehicles are expected to last for three years. (Assume that straight-line depreciation is used, with no salvage value.) d. The city delayed paying $98,000 of bills that it owed in December 2020. The city paid those bills during January 2021 Paragraph V . Letter Cash Basis Expenditure Accrual Basis Expense 1 > EQ 3