Required: each transaction, determine the amount of revenue or expense, if any, that is recorded under accrual-basis accounting and under cash-basis accounting Accrual-Basis Cash-Basis Transaction Revenue Expense Revenue Expense 1. Receive cash from customers at the time of service, $3,500 Issue common stock for cash, $5,800 Receive cash from customers who were previously billed, $1,600. 4. Incur utilities cost in the current month but do not pay, $580. 5. Pay workers' salaries for the current month, $680. Pay for rent one year in advance, $3,360. Repay a long-term note the bank, $2,800 8. Pay workers' salaries for the previous month, $830 Pay dividends to stockholders, $480. 10 Purchase office supplies for cash, $520