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In January 2024. Summit Department Store sells o gin card for $140 ond recelves cash. ln February 2024 , the customer comes back and spends $110 of the gift card to purchase a water bowle What is the financial stotement effect of the sale of the gift card in January? Multiple Choice Increase assets by $140 andincrease ilablities byst40 Increase assets by $10, deciease vablities by $30, end increste stockholders equity by $140 increase assets by $140 and increase stock hoiders ecuty by $140 Increase ascets by $110, increaseliabilitiesby $140, and decrease stocktidiers equity by $30