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:

Antibiotic

Medications used to treat infections by killing or inhibiting the growth of bacteria, essential in managing bacterial infections.

Allergic Response

An allergic response is the body's immune system reacting to a substance it considers harmful, resulting in symptoms like itching, swelling, and difficulty breathing.

Generalized Itchy Rash

A widespread rash that causes itching, affecting multiple parts of the body, potentially due to various medical conditions or allergic reactions.

Antibiotic Treatment

The use of antibiotics to combat bacterial infections by killing or inhibiting the growth of bacteria.