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  3. the following transactions for carleton company oc

The following transactions for Carleton Company occurred during January 2020: 1 Purchased a...

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Accounting

The following transactions for Carleton Company occurred during January 2020:
1 Purchased a two-year insurance policy for cash, $8,400.
4 Paid utilities bill received in December 2019, $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 amount of revenue and expense recognized for each transaction under both the accrual basis and the cash basis of accounting by completing the charts below. (10 Marks)
ACCRUAL BASIS
\table[[Date,Revenue,Expense],[,,],[,,],[,,],[,,],[,,]]
CASH BASIS
\table[[Date,Revenue,Expense],[,,],[,,],[,,],[,,],[,,]]
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