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 Accrual-Basis Cash-Basis Transaction Revenue Expense Revenue Expense 1. Receive cash from customers at the time of service, $2,700. 2. Issue common stock for cash, $5,000 3. Receive cash from customers who were previously billed, $1,200. 4. Incur utilities cost in the current month but do not pay, $500 5. Pay workers' salaries for the current month, $600. 6. Pay for rent one year in advance, $2,400 7. Repay a long-term note to the bank, $2,000 8. Pay workers' salaries for the previous month, $750 9. Pay dividends to stockholders, $400 10. Purchase office supplies for cash, $440. Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018, trial balance (before any adjusting entries) appears below Debits Credits $ 12,000 Prepaid Insurance 75,000 Accumulated Depreciation S 17,000 0 2 1,000 213,000 nse 148,000 Insurance Expense 10,000 $288,000 $288,000 Information necessary to prepare the year-end adjusting entries appears below a. Depreciation on the machines for the year is $8,000 b. Employee salaries are paid every two weeks. The last pay period ended on December 23. Salaries earned from December 2. through December s 2018 a 2000. c. On September 1, 2018, Jaguar borrows $25,000 from a local bank and signs a note. The note requires interest to be paid annually on August 31 at 9%. The principal is due in five years d. On March 1, 2018, the company purchases insurance for $12,000 for a one-year policy to cover possible injury to mechanics. The entire $12,000 was debited to Prepaid Insurance at the time of the purchase e. $3,000 of supplies remains on hand at December 31, 2018 f. On December 30, Jaguar receives a utility bill of $1,200 for the month. The bill will not be paid until early January 2019, and no entry was recorded when the bill was received. Required Prepare the necessary adjusting entries on December 31, 2018. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.)