1. Which of the following represents revenue for the month of July for MBV Medical Group, Inc.?

a During July, new capital stock was issued in exchange for $35,000 cash.

b Collected cash of $1,400 in July on an account receivable. The receivable originated in January from services performed for a patient.

c Performed medical services for a patient in July. Total amount of the invoice was $3,000, but no payment has been received as of the end of June.

d Borrowed $15,000 from National Bank on July 15.