The Following Transactions Occurred During July

question 3

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 Barbara Hanson,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.
Signed a promissory note for a $6,000 bank loan.
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:

Correlate

To have a mutual relationship or connection between two or more things, where one can be related to or affect the other.

Trait Approach

A perspective in psychology focused on identifying, describing, and measuring individual characteristics and differences in personality.

Personality

A unique set of emotional, thoughts, and behavioral patterns that define an individual.

Collective Unconscious

A concept in Jungian psychology referring to the part of the unconscious mind that is derived from ancestral memory and experience, shared among beings of the same species.