In a perfectly competitive market a. Every seller takes the market price as given. b. Every seller tries to undercut the prices charged by its rivals. c. A few sellers each sell identical products at the prevailing market price. d. Every seller tries to distinguish themselves by selling a product that is differentiated from that of their rivals.

The following transactions occurred during july: received $1,000 cash for services provided to a customer during july. received $4,000 cash investment from bob johnson, the owner of the business received $850 from a customer in partial payment of his account receivable which arose from sales in june. provided services to a customer on credit, $475. borrowed $7,000 from the bank by signing a promissory note. received $1,350 cash from a customer for services to be rendered next year. what was the amount of revenue for july?