Volmont Inc experienced the following events in 2014 , its first year of operation:

1. Received $50,000 cash from the issue of common stock.

2. performed services on the account for $67,000.

3.Paid a $5,000 cash dividend to the stockholders.

4.Collected $45,000 of the account receivable.

5.Paid $49,000 cash for the operating expenses.

6. Performed services for $10,000 cash.

7.Recognized $2000 of the accrued utilities expense at the end of the year

Required

a) Identify the events that result in the revenue or expense recongnition