Cordell Inc. experienced the following events in Year 1, its first year of operation:
1. Received $53,000 cash from the issue of common stock.
2. Performed services on account for $75,000.
3. Paid a $5,300 cash dividend to the stockholders.
4. Collected $59,000 of the accounts receivable.
5. Paid $53,000 cash for other operating expenses.
6. Performed services for $18,000 cash.
7. Recognized $2,300 of accrued utilities expense at the end of the year.
Required a. & c. Identify the events that result in revenue or expense recognition and those which affect the statement of cash flows.