29. In December 2020, a company collects \$600000 from custorners for services to be provided in equal monthly amounts from Fehruary throogh July of 2021. Which of the following is true? b. The compuny will repont revenue of $100,000 per month February through July of 2021 . balance shiect. c. Both a and b. d. Neither a nor b. 30. In the indirect method of preparing cach flows from operating activities, depreciation expense is added back to net income because: a. Depreciation is a source of operating sash flow. b. Depreciation is a non-cash expense. c. Depreciation doesn't affect net income or cash flows. d. Depreciation is an investing cash flow: 31. Which of the following is not an operating liability? a. Loans payable b. Wages payable c. Uneamed revenue d. Accounts payable 32. A company offers credit terms of 3/15,n/45. A customer purchases $10.000 of merchandise on account on May 12 and pays the invoice in full on May 27. The payment date journal entry will: a. Debit cash $10,000 b. Credit accounts receivable $9,700 c. Debit sales discounts $300 d. Credit sales discounts $200 33. On December 28, 2021, ABC Company had 40,000 shares of 56 par value common stock outstanding. ABC declared a 3-for-1 stock split on Deccmber 30,2021 . Which of the following statements correctly describes ABC's common stock after the splir? a. ABC has 80,000 shares of $3 par value common stock outstanding. b. ABC has 120,000 shares of $3 par value common stock outstanding. c. ABC has 80,000 shares of $2 par value common stock outstanding. d. ABC has 120,000 shares of $2 par value common stock outstanding. 34. A compuny can increase its retum on assets by: a. Increasing its profit margin b. Selling more goods and services without increasing its total assets c. Both a and b. d. Neither a nor b