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A member of a coffee loyalty program purchased a cup of coffee for his buddy for $4.95 and then redeemed his filled card for
A member of a coffee loyalty program purchased a cup of coffee for his buddy for $4.95 and then redeemed his filled card for a free coffee worth $3.95. The journal entry by the coffee shop to record this purchase would include O a credit to Coffee Sales for $3.95. O a debit to Cash for $8.90. O a debit to a Unearned Revenue-Loyalty Program account for $3.95. O a debit to a Sales Discount for Redemption Rewards account for $3.95.
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