The following events occurred at VG Consulting during the most recent month.
a. VG provided consulting services and billed clients $ 2,000.
b. VG collected $ 1,500 for consulting services performed in the prior month.
c. VG paid its monthly electric bill of $ 300.
d. Employees who worked for VG were not paid for services performed. Next month they will be paid $ 850.
e. VG collected fees of $ 700 for services to be performed in the following month. For each event, determine the revenue or expense under the cash and accrual bases of accounting.