Answered

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The following transactions occurred during July:
1. Received $1,090 cash for services provided to a customer during July.
2. Received $5,800 cash investment from Bob Johnson, the stockholder of the business.
3. Received $940 from a customer in partial payment of his account receivable which arose from sales in June.
4. Borrowed $7,900 from the bank by signing a promissory note.
5. Received $1,440 cash from a customer for services to be rendered next year.
6. Provided services to a customer on credit $565.
What was the amount of revenue for July?
a. $1,090
b. $1,655
c. $3,095
d. $4,035
e. $17,170

Sagot :

abiolataiwo2015

Answer:

b. $1,655

Explanation:

Calculation for What was the amount of revenue for July

Cash for services $1,090

Add Services provided on credit $565

Revenue $1,655

($1,090+$565)

Therefore the amount of revenue for July will be $1,655

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