The Following Transactions Occurred During July

question 43

Multiple Choice

The following transactions occurred during July:
1) Received $900 cash for services provided to a customer during July.
2) Received $2,200 cash investment from Bob Johnson, the stockholder of the business.
3) Received $750 from a customer in partial payment of his account receivable which arose from sales in June.
4) Provided services to a customer on credit, $375.
5) Borrowed $6,000 from the bank by signing a promissory note.
6) Received $1,250 cash from a customer for services to be rendered next year.
What was the amount of revenue for July?

• A) $ 900.
• B) $ 1,275.
• C) $ 2,525.
• D) $ 3,275.
• E) $11,100.

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Definitions:

Vascular Bundle

Multistranded bundle of xylem, phloem, and sclerenchyma fibers running through a stem or leaf.

Endodermal

Relating to the innermost layer of the three primary germ layers in the embryo, giving rise to the gastrointestinal tract, liver, and lungs.

Mesophyll

Photosynthetic parenchyma of plants.

Sieve Tubes

A series of sieve tube elements placed end to end to form channels for nutrient transport in plants.