Record the amount of revenue or expenses to be recognized under both the cash and accural basis of account. Then record the amount that net income is impacted. Cash Basis Accural Basis Effect on P3-1a Revenue Expenses Revenue Expenses Effect on Net Income Net Income Receive cash from customers in advance, 5600 Pay utilities bill for the previous month, $150. Pay for insurance one year in advance, 92.000, Pay workers' salaries for the current month, $800. Incur costs for employee salaries in the current month but do not pay. $1,000 Receive cash from customers at the time of service, S1.700, Purchase office supplies on account, 8330. Borrow cash from the bank, $4,000. Receive cash from customers for services performed last month, S750. Pay for advertising to appear in the current month, S450