Gitis,IncUses the Direct Method to Prepare Its Statement of Cash

question 11

Multiple Choice

Gitis,Inc.uses the direct method to prepare its statement of cash flows.Use the following information reported for 2017:
Sales Revenue,$40,000
Interest Revenue,$700
Accounts Receivable,beginning balance,$13,200
Accounts Receivable,ending balance,$28,000
There were no amounts reported for Interest Receivable.
Compute the total cash receipts.

• A)$28,000
• B)$53,200
• C)$25,900
• D)$13,200

---

Definitions:

Condoning

Condoning refers to the act of overlooking, forgiving, or disregarding an offense without criticism or punishment.

Verbalize

To express thoughts, feelings, or information in spoken words or articulate speech.

Intensity

The degree of strength, force, or concentration applied in an activity or by a phenomenon.

Interviewing Style

the particular manner or approach a person uses when conducting interviews.