Sharpe 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 was Sharpe's operating revenue? Group of answer choices a)$404,000 b)$411,700 c)$442,000 d)$460,700 e)None of the above

Sharpe 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 was Sharpe's operating revenue? Group of answer choices a)$404,000 b)$411,700 c)$442,000 d)$460,700 e)None of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Sharpe 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 was Sharpe's operating revenue?

Group of answer choices

a)$404,000

b)$411,700

c)$442,000

d)$460,700

e)None of the above

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