In December 2019, Swanstrom Inc. receives a cash payment of $3,500 for services performed in December 2019 and a cash payment for $4,500 for services to be performed in January 2020. Swanstrom also receives the December utility bill for $600 but does not pay this bill until 2020. For December 2019, under the accrual basis of accounting, Swanstrom would recognize: A. $8,000 of revenue and $600 of expense. B. $8,000 of revenue and $0 of expense. C. $3,500 of revenue and $600 of expense. D. $3,500 of revenue and $0 of expense.