The following transactions occurred during July for Hurley Services:(1)Received $800 cash for photography services provided to customer during the month.(2)Received $500 cash from Barbara Blanc, the owner of the business.(3)Received $300 from a customer in partial payment of his account receivable which arose as a result of sales during June.(4)Rendered photography services to a customer on credit, $1,500Borrowed $800 from the bank by signing a promissory note.(6)Received $500 from a customer in payment for services to be rendered next year.How much revenue was earned in July?
A)$1,200.
B)$2,300.
C)$2,800.
D)$7,000.
E)$5,500.

Question

Quizplus · Accepted Answer

Revenue earned in July includes cash received for services provided during the month ($800) and credit sales for photography services ($1,500), totaling $2,300. The other transactions are not revenue transactions.

The Following Transactions Occurred During July for Hurley Services:(1)Received $800