The following transactions for Carleton Company occurred during January 2016: Jan. 1 Purchased a two-year insurance policy for cash, $8,400 4 Paid utilities bill received December 2015, $450 9 Performed a service on account, $1,200 16 Paid bimonthly salary to employees, $2,700 21 Received $800 from a customer on account 25 Received $600 from January 9 transaction 30 Prepared the adjusting entry for insurance from January 1 transaction 30 Accrued wages of $2,750 Required: Show the total amount of revenue and expense recognized under both the accrual basis and cash basis of accounting. Accrual Basis Revenue Total Expense Total Cash Basis Revenue Total Expense Total