Thank you all!
"The qr code is a long form version of a Private key and can be uploaded to a wallet or MTGOX private key upload feature"
How do I upload the Private Key to my Bitcoin wallet?
Once the BTC are in my wallet what is the easiest way to convert them to cash?
The easiest way to convert it to cash is to honestly skip the wallet part, open an MTGOX account and upload your key there (There should be an option that says private key in the import funds section.) after it gets a few confirmations, just sell it there.