Question

Received $950 cash for services provided to a customer during July. Issued common stock for $3,000 cash. Received $800 from a customer in partial payment of his account receivable which arose from sales in June. Provided services to a customer on credit, $425. Borrowed $6,500 from the bank by signing a promissory note. Received $1,300 cash from a customer for services to be performed next year. What was the amount of revenue for July

Answer 1

Answer:

$1,375

Explanation:

Calculation to determine What was the amount of revenue for July

Using this formula

July Revenue= July Cash Received for services provided+ Services provided to customer on credit

Let plug in the formula

July Revenue= $950+$425

July Revenue=$1,375

Therefore the amount of revenue for July is $1,375