for each of the 5 transation, state whether the transaction represented revenue to the firm during the month of May. could you give me the reason for your decision in each case. a. the firm received $300,000 cash by using additional share of capital b. Collected cash of $25,000 fom account receivable. The receivable originated in April from services rendered to a client. c. Borrowed $60,000 from Century Bank to be repaid in three months. d. Earneds $250 interest on a company of saving account during the month of May. No withdrawals were made from this account in May. e. Completed plans for a guesthouse, pool, and spa for a client. The $7,000 fee for this project was billed to the client in May, but will not be collected until June 25.
for each of the 5 transation, state whether the transaction represented revenue to the firm during the month of May. could you give me the reason for your decision in each case.
a. the firm received $300,000 cash by using additional share of capital
b. Collected cash of $25,000 fom account receivable. The receivable originated in April from services rendered to a client.
c. Borrowed $60,000 from Century Bank to be repaid in three months.
d. Earneds $250 interest on a company of saving account during the month of May. No withdrawals were made from this account in May.
e. Completed plans for a guesthouse, pool, and spa for a client. The $7,000 fee for this project was billed to the client in May, but will not be collected until June 25.
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