The Following Transactions Occurred During July: • Received $900 Cash

question 1

Multiple Choice

The following transactions occurred during July: • Received $900 cash for services provided to a customer during July.
• Received $2,200 cash investment from Bob Johnson, the owner of the business.
• Received $750 from a customer in partial payment of his account receivable which
Arose from sales in June.
• Provided services to a customer on credit, $375.
• Borrowed $6,000 from the bank by signing a promissory note.
• 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.

---

Definitions:

Competence

The ability of an individual to effectively perform or carry out a specific task.

Morality

Principles concerning the distinction between right and wrong or good and bad behavior, often influenced by cultural, religious, or personal beliefs.

Sociability

The tendency to seek social interactions and exhibit enjoyment in engaging with others.

Cognitions

Mental processes involved in gaining knowledge and comprehension, including thinking, knowing, remembering, judging, and problem-solving.