Smith Corporation has provided the following information: Cash sales totaled $125,000. Credit sales totaled $279,000. Cash collections

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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 property and equipment occurred.

Interest income totaled $7,700.

How much of these items was included in operating income?

A)$415,000.

B)$411,700.

C)$442,000.

D)$460,700.

Related Book For answer-question

Financial and Managerial Accounting the basis for business decisions

ISBN: 978-0078111044

16th edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

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Posted Date: Feb 02, 2022 05:06 AM

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Smith Corporation has provided the following information: Cash sales totaled $125,000. Credit sales totaled $279,000. Cash collections

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Financial and Managerial Accounting the basis for business decisions

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