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Incorrect Question 7 0 / 2.5 pts In 2020, Abel Tesfaye Corp. began a three-year, long-term construction project that qualified for revenue recognition over time. Tesfaye's customer agreed to pay $300,000. By the end of 2020, Tesfaye had spent $60,000 on the project and expected to spend an additional $180,000 over the next two years. Tesfaye measures progress toward completion based on costs incurred. How much revenue will Tesfaye report on the project in its 2020 income statement? (just enter the number, without any commas or a dollar sign) 240,000 Incorrect Question 8 0 / 2.5 pts During 2020, Marshall Mathers Corp. offered customers a $10 cash rebate on purchases over $100. At the time of any purchase over $100, customers can choose to provide their address to Mathers. Those who do will receive a $10 prepaid debit card in the mail within 60 days. By the end of 2020, Mathers had sales totaling $160,000, and 1,200 customers applied for rebates totaling $12,000. By the end of 2020, $9,000 in debit cards had been mailed, and the remaining $3,000 in debit cards will be mailed in January 2021. How much should Mathers recognize as revenue in its 2020 income statement? (just enter the number, without any commas or a dollar sign) 151,000 Incorrect Question 9 0 / 2.5 pts In January 2020, Jacques Webster, Inc., began selling guitars with a 60-day return policy for $100 each. Webster sold 300 guitars in the first quarter of 2020 (Q1). At the end of Q1, 20 of the 300 guitars had already been returned and Webster expected that 10 more would be returned during Q2 (i.e., 30 returns in total). How much net revenue (i.e., net of returns) should Webster report in its income statement in Q1? (just enter the number, without any commas or a dollar sign) 28,000