Smith Corporation Has Provided the Following Information

question 28

Multiple Choice

Smith Corporation has provided the following information:
Cash sales totaled $125,000.
Credit sales totaled $279,000.
Cash collections from customers for services yet to be provided totaled $38,000.
An $11,000 gain from the sale of plant and equipment occurred.
Interest income totaled $7,700.
How much were Smith's operating revenues?

• A)$404,000
• B)$411,700
• C)$442,000
• D)$460,700

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Definitions:

Coffee Houses

Public places that serve coffee and other refreshments, often acting as informal centers for social interaction, exchange of ideas, and cultural activities.

Colonial Men

Refers to the male inhabitants of colonies, particularly during the period of European colonial expansion, who played roles in administration, trade, and agriculture.

Bayou

A bayou is a slow-moving or stagnant body of water, typically found in flat, low-lying areas, and often in the southeastern United States, particularly in the Mississippi Delta region.

Pietism

A movement within Lutheranism that emerged in the 17th century, focusing on personal faith, the need for a born-again experience, and a more intimate relationship with God.