Question: 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,

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.

$25,900

B.

$53,200

C.

$28,000

D.

$13,200

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