Consider the following transactions.

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.

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Accrual-basis Cash-basis Transaction Revenue Expense Revenue Expense 1. Receive cash from customers in advance, $600 2. Pay utilities bill for the previous 3. Pay for insurance one year in advance, $2,000 4. Pay workers' salaries for the current month, S800 5. Incur costs for employee salaries in the current month but do not pay, $1,000 _ 6. Receive cash from customers at the time of service, $1,700. 7. Purchase office supplies on account, $330 8. Borrow cash from the bank, S4,000 9. Receive cash from customers for services performed last month, $750. 10. Pay for advertising to appear in the current month, $450