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 Accrual-Basis Cash-Basis Transaction Revenue Expense Revenue Expense 1. Receive cash from customers in advance, $570 2. Pay utilities bill for the previous month, $135. 3. Pay for insurance one year in advance, $1,850 4.Pay workers' salaries for the current month, $770. 5. Incur costs for employee salaries in the current month but do not pay, $970 6. Receive cash from customers at the time of service, $1,550. 7. Purchase office supplies on account, $300 8. Borrow cash from the bank, $3,700. 9.Receive cash from customers for services performed last month, $720 10 Pay for advertising to appear in the current month, $420