The Following Transactions Occurred During July

question 11

Multiple Choice

The following transactions occurred during July:
1.Received $900 cash for services provided to a customer during July.
2.Issued common stock for $2,200 cash.
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 performed 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:

SE Coef

The Standard Error of the Coefficient (SE Coef) measures the accuracy with which a sample represents a population, specifically showing how much the estimated coefficients of a regression analysis are likely to vary from the actual population values.

Linear Effects

Phenomena or changes that are directly proportional to the changes in an independent variable, showing a straight-line relationship in graphical representations.

Worst Predictor

A variable or factor that provides little to no useful information in forecasting or predicting outcomes.

Linear Effects

The impact on a dependent variable that is proportional to the change in an independent variable, suggesting a straight-line relationship in a statistical model.