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

Question

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

Quizplus · Accepted Answer

Operating revenues = $404,000 = $125,000 + $279,000

Smith Corporation Has Provided the Following Information