The Following Transactions Occurred During July: 1

question 89

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 provided 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:

Competitive

The state or quality of having a competitive advantage or being able to compete effectively in the market.

Collaborative

Involving two or more parties working together towards a common goal, often seen in partnerships between businesses to enhance performance or innovation.

Objective Rating Systems

Systems or methods used to evaluate or assess performance quantitatively, based on impartial and measurable criteria.

Evaluation

The systematic assessment of processes, systems, or organizations to measure performance, effectiveness, or value.