Assume that jack, hal, and sophia enter into an agreement for the sale of the restaurant. hal and sophia get a loan from fourth national bank to pay for it. when their first payment is due, they get a letter from bank of north america stating that they bought the loan from fourth national bank. if hal and sophia were to default on the loan, who would have rights under the contract to sue hal and sophia for non-payment?

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?