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