What Would Be the Account Balance in the Revenue Ledger

question 41

Multiple Choice

What would be the account balance in the revenue ledger account after the following transactions?
$\begin{array}{|l|l|}\hline \text { Performed services and left a bill } & \$ 4,200 \\\hline \text { Performed services and collected immediately } & \$ 3,500 \\\hline \text { Performed services and billed customer } & \$ 2,200 \\\hline \text { Performed services on account } & \$ 6,000 \\\hline \text { Received partial payment on account } & \$ 1,500\\\hline\end{array}$

• A)$17,400 Credit
• B)$14,400 Credit
• C)$14,400 Debit
• D)$15,900 Credit
• E)$15,900 Debit

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Definitions:

Independent Samples

Sets of data collected from two groups where the subjects in one group have no relation to the subjects in the other.

Total Variation

The overall measure of the spread or dispersion within a set of data points or observations.

Sum of Squares

The total squared deviation of each observation from the mean, a measure of total variation within a dataset.

Unexplained

Refers to the portion of variance in a set of data that cannot be accounted for by the predictive variables in a statistical model.