So, I looked a little bit more into the Abutilon hybridum, which is the variety you have. Apparently, my instinctive advice was correct. Afternoon sun should be avoided. If you can keep this guy in the east, south east, that would be best. If it goes southeast, a little shade is good, too.
Keep the soil moist while it is flowering, so water maybe 2-3 times a week, depending on water use.
Get a saucer for the pot, and when you water it, make sure there is water in the saucer when you leave it. If it doesn't soak up the water within a day, then leave less water in the saucer the next time.
That is a very nice gift. I never give people cut flowers, instead I give flowering plants. Life is fantastic.