Funky Dance sold inventory for $350,000, terms 4/10./30. Cost of goods sold was $158,000. How much sales revenue will Funky Dance report from the sale? (Assume the company records sales at the net amount.) O A. 5158,000 O B. $350,000 OC. $336,000 OD. $192,000 At December 31 year-end, Cushion Corporation has a $10,000 note receivable from a customer. Interest of 6% has accrued for 2 months on the note. What will Cushion's financial statements report for this situation at December 31? O A. The balance sheet will report the note receivable of $10,000 and interest receivable of $100 OB. The income statement will report a note receivable of $10,000. OC. Nothing because the business has not received the cash yet O D. The balance sheet will report the note receivable of $10.000. Lamb Company reported the following selected items at February 28, 2018 (last year's-2017-amounts also given as needed) (Click the icon to view the selected items.) 14. Compute Lovett's (a) acid-test ratio, (b) accounts receivable turnover ratio, and (c) days' sales in receivables as of February 28, 2018 (a) Determine the formula, then compute the acid-test ratio. (Abbreviations used: Cash term investments Enter the acid-test ratio to two decimals, XXX) Cash including cash equivalents, ST Invest = short- = Acid-test ratio (b) Determine the formula, then compute the accounts receivable turnover ratio. (Abbreviations used: Cash Cash including cash equivalents, ST invest. = short-term investments: AR = Accounts Receivable. Round the accounts receivable turnover ratio to two decimal places, XXX) = AR turnover ratio 133,000 152,000 $ Accounts Payable Cash Merchandise Inventory February 28, 2018 February 28, 2017 Net Credit Sales Revenue Long-term Assets Long-term Liabilities 114,000 87.000 1,100,000 172,000 52,000 Accounts Receivable, net: February 28, 2018 February 28, 2017 Cost of Goods Sold Short-term Invesharents Other Current Assets Other Current Liabilities 127,000 49,000 480,000 42,630 49,000 80,000 Print Done A copy machine cost $30,000 when new and has accumulated depreciation of $28,000. Suppose Print and Photo Center discards this machine and receives nothing. What is the result of the disposal transaction? O A. No gain or loss OB. Loss of $32,000 O C. Loss of $2,000 OD. Gain of $2,000