The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. Issued common stock for $4,400 cash. Received $870 from a customer in partial payment of his account receivable which arose from sales in June. Provided services to a customer on credit, $495. Borrowed $7,200 from the bank by signing a promissory note. Received $1,370 cash from a customer for services to be performed next year. What was the amount of revenue for July?
The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. Issued common stock for $4,400 cash. Received $870 from a customer in partial payment of his account receivable which arose from sales in June. Provided services to a customer on credit, $495. Borrowed $7,200 from the bank by signing a promissory note. Received $1,370 cash from a customer for services to be performed next year. What was the amount of revenue for July?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following transactions occurred during July:
- Received $1,020 cash for services provided to a customer during July.
- Issued common stock for $4,400 cash.
- Received $870 from a customer in partial payment of his account receivable which arose from sales in June.
- Provided services to a customer on credit, $495.
- Borrowed $7,200 from the bank by signing a promissory note.
- Received $1,370 cash from a customer for services to be performed next year.
What was the amount of revenue for July?
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