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.