Use the following transactions to answer questions 17-19 Determine the amount of revenue or expense that would be reported at the time of the transaction under the two methods. An example transaction has been completed for you. Example: Purchased office supplies for cash, $440 Transaction example Purchased office supplies for cash, $440 (no accrued expense, hasn't been used yet...cash flowed for the operating cost so it's a cash expense) 17. 18 19. Paid utility bill for the current month, $1,200. Repaid $100,000 a long-term note to the bank. Used $300 of the office supplies. Accrual-basis Cash-basis Revenue Expense Revenue Expense $0 $0 50 $440