Question

A company completed the following transactions during the month of​ October:

I. Purchased office supplies on​ account, $4,200.
II. Provided services for​ cash, $25,000.
III. Provided services on​ account, $34,000.
IV. Collected cash from a customer on​ account, $31,000.
V. Paid the monthly rent of $ 4,000.
What was the​ company's total revenue for the​ month?

Answer 1

The company's total revenue for October is the sum of revenue from services provided for cash ($25,000) and on account ($34,000), amounting to a total of $59,000.

Step-by-step explanation:

The company's total revenue for the month can be calculated by adding the revenue from services provided for cash and the revenue from services provided on account. The purchase of office supplies, collection of cash from a customer on account, and payment of rent are not included in revenue calculations.

So, the total revenue for the month is:

• Revenue from services provided for cash: $25,000
• Revenue from services provided on account: $34,000

Adding these amounts together gives us:

$25,000 + $34,000 = $59,000

Therefore, the company's total revenue for October is $59,000.