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Shults Labs donates prescription medications worth $120,000 to a local nonprofit hospital. How should the hospital report the donation in its financial statements? O Report
Shults Labs donates prescription medications worth $120,000 to a local nonprofit hospital. How should the hospital report the donation in its financial statements? O Report an asset and an other revenue (or gain) at the manufacturer's direct cost to produce the equipment, which is estimated at $70,000 O Report contribution reveme (or gain) and an asset (inventory) of $120,000 O Report contribution revene (or gain) and an expense of $120,000 O Report nothing on the face of the financial statements, but describe the donation in the notes to the statements
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