Saved odule 1 Extra Credit Problem 3-1A Determine accrual-basis and cash-bosis revenues and expenses (LO3-1, 3-2) 1 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 1 Accrual-Basis Cash-Basis Revenue Expense Revenue Expense ences Transaction 1 Receive cash from customers in advances 2. Paytis bill for the previous month $150 Pay for insurance one you in advance $1.800 Pay workers' salanes for the current month, 5750 5. Incur costs for employee satanes in the current month but do not pay $960 6 Roonecash from customers at the time of service, $1,500 7. Purchase office supplies on account $290 B Borrow cash from the bank 53 600 Receive cash from customers for services performed last month $710 10 Pay for advertising to appear in the current month $410