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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
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 Revenue Expenso Revenue Expense Transaction 1. Receive cash from customers at the time of service, $3,000 2. Issue common stock for cash, $5.900. 3. Receive cash from customers who were previously billed, $1,650 4. Incur les cost in the current month but do not pay $500 5. Pay workers' salaries for the current month. $690. 6. Pay for rent one year in advance, $3,480 7. Repay a long-term note to the bank. $2.900 8. Pay workers' salaries for the previous month $040, 9. Pay dividends to stockholders, 3490 10. Purchase office supplies for cash, $530
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