The following transactions occurred during July: received $900 cash for services provided to a customer during July. Issued common stock for $2,200 cash. 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. Borrowed $6,000 from the bank by signing a promissory note. Received $1,250 cash from a customer for services to be performed next year. What was the amount of revenue for July?

Question

Business

Isabell Arias

15 August, 12:42

The following transactions occurred during July: received $900 cash for services provided to a customer during July. Issued common stock for $2,200 cash. 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. Borrowed $6,000 from the bank by signing a promissory note. Received $1,250 cash from a customer for services to be performed next year. What was the amount of revenue for July?

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Answers (1)

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Micah Valentine · Answer 1

revenue for july 1,275

Explanation:

We only have to compute the services performed in July

900 cash services july

375 credit services july

1,275

The received from sales in junes doesn't count.

Also doesn't count the advance payment for services at next year