The Following Transactions Occurred During July: 1

question 23

Multiple Choice

The following transactions occurred during July: 1.Received $1,600 cash for services performed during July.
2.Received $10,000 cash from the issuance of common stock to owners.
3.Received $800 from a customer as payment for services performed during June.
4.Billed $7,000 to customers for services performed on account in July.
5.Borrowed $5,000 from the bank and signed a promissory note.
6.Received $2,000 from a customer for services to be performed during August.
Which of the following statements about the recording of these transactions is correct?

• A)Transaction #1 would include a debit to Service Revenue.
• B)Transaction #3 would include a debit to Accounts Receivable.
• C)Transaction #4 would include a debit to Accounts Receivable.
• D)Transaction #6 would include a debit to Deferred Revenue.

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Definitions:

Acute Pain

A type of pain that typically lasts a short period of time and is usually related to some kind of tissue damage or injury, serving as a warning of disease or a threat to the body.

Positive Reinforcement

A technique used in behavioral psychology where a desirable stimulus is presented after a behavior, increasing the likelihood of that behavior being repeated in the future.

Pain Behaviors

Actions or reactions, such as grimacing or moaning, that express or communicate the presence of pain to observers.

Gate Control Theory

A theory suggesting that psychological factors play a role in the perception of pain; the brain can influence the pain signals that pass through the spinal cord's "gates."