Cordell Incorporated experienced the following events in Year1, its first year of operation: 1. Received $42,000 cash from theissue of common stock. 2. Performed services on account for$70,000. 3. Cordell Incorporated experienced the following events in Year 1, its first year of operation: 1. Received \( \$ 42,000 \) cash from the issue of common stock. 2. Performed services on account for \( \ 1 answer