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asking this again.... last answer was wrong and the person did not do all the part either... don't look at my numbers, it is wrong
asking this again....
last answer was wrong and the person did not do all the part either...
don't look at my numbers, it is wrong from last answer
please help please
the whole question just because it done wtorn by one of the expert
Question 1 of 6 > 7.29/22 View Policies Show Attempt History Current Attempt in Progress During February, the last month of the fiscal year, Be My Valentine Ltd. sells $22,600 of gift cards. From experience management estimates that 8% of the gift cards sold will not be redeemed by customers. In March. $4,600 of these cards is redeemed for merchandise with a cost of $2.500. In April, further $13,800 of these cards is redeemed for merchandise with a cost of $4,600. The company uses a perpetual Inventory system, Also in February, Be My Valentine had $1,000 of unused gift cards that were over one year old and were not expected to be used. The amount was in line with the company's normal breakage and all other gift cards of the same age had been used. Your answer is partially correct. Prepare journal entries to record the transactions for February March, and April (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required select "No entry for the account titles and enter for the amounts. Round answers to decimal places, s. 125) Date Account Titles and Explanation Debit Credit Feb Cash 22600 V 22600 Gift Card Liability (Cash received for gift cards) Gift Card Liability 1808 1809 Sales Revenue (To record breakage) Gift Card Liability Marv 4600 4600 Sales Revenue (Gift cards redeemed for merchandise) Cost of Goods Sold 2500 2500 To record cost of merchandise) Gift Card Liability X P 28 sty Assessment Player UI AD X + Jul/V2/assessment-player/index.html?launchid=7c77013d-a33a-4fce-a911-c1745c28a3e8#/question/ Question 1 of 6 > 7.29/22 III Date Account Titles and Explanation Debit Credit Feb Co 22600 22600 Gift Card Liability (Cash received for gift cards) G Card Liability 1808 Sales Revenge 1808 (To record breakage) Gant Card Liability Mar 4600 Sales Revenue 1600 (Gift cards redeemed for merchandise) Cost of Goods Sold 2500 2500 Inventory (To record cost of merchandise) Gift Card Liability Sales Revenue (To record breakage) G Card ability Apr 13800 13800 Sales Revenue (Gift cards redeemed for merchandise) Cost of Goods Sold 4500 4600 Inventory (To record cost of merchandise) Gift Card Liability 2392 2392 Sales Reven (To record breakago) e Textbook and Media 28 tv 13d-a33a-4fce-a9f1-c1745c28a3e8/questio Question 1 of 6 7.29/22 List of Accounts Your answer is partially correct How much income if anyl was earned in each of these months? (Round answers to decimal places, es 125) February $ March $ Sales revenue 1800 April $ 2500 4600 Cost of goods sold o Gross margin $ 1808 $ e textbook and Media List of Accounts X Your answer is incorrect. What liability of any would appear on the company's statement of financial position at the end of each of these months? (Round answers to decimal places, s. 1250 20792 Balance, February 28 Balance, March 31 18472 Balance, April 30 $ 13872 e Textbook and Media List of Accounts 28 . stv Question 1 of 6 > 7.29/22 View Policies Show Attempt History Current Attempt in Progress During February, the last month of the fiscal year, Be My Valentine Ltd. sells $22,600 of gift cards. From experience management estimates that 8% of the gift cards sold will not be redeemed by customers. In March. $4,600 of these cards is redeemed for merchandise with a cost of $2.500. In April, further $13,800 of these cards is redeemed for merchandise with a cost of $4,600. The company uses a perpetual Inventory system, Also in February, Be My Valentine had $1,000 of unused gift cards that were over one year old and were not expected to be used. The amount was in line with the company's normal breakage and all other gift cards of the same age had been used. Your answer is partially correct. Prepare journal entries to record the transactions for February March, and April (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required select "No entry for the account titles and enter for the amounts. Round answers to decimal places, s. 125) Date Account Titles and Explanation Debit Credit Feb Cash 22600 V 22600 Gift Card Liability (Cash received for gift cards) Gift Card Liability 1808 1809 Sales Revenue (To record breakage) Gift Card Liability Marv 4600 4600 Sales Revenue (Gift cards redeemed for merchandise) Cost of Goods Sold 2500 2500 To record cost of merchandise) Gift Card Liability X P 28 sty Assessment Player UI AD X + Jul/V2/assessment-player/index.html?launchid=7c77013d-a33a-4fce-a911-c1745c28a3e8#/question/ Question 1 of 6 > 7.29/22 III Date Account Titles and Explanation Debit Credit Feb Co 22600 22600 Gift Card Liability (Cash received for gift cards) G Card Liability 1808 Sales Revenge 1808 (To record breakage) Gant Card Liability Mar 4600 Sales Revenue 1600 (Gift cards redeemed for merchandise) Cost of Goods Sold 2500 2500 Inventory (To record cost of merchandise) Gift Card Liability Sales Revenue (To record breakage) G Card ability Apr 13800 13800 Sales Revenue (Gift cards redeemed for merchandise) Cost of Goods Sold 4500 4600 Inventory (To record cost of merchandise) Gift Card Liability 2392 2392 Sales Reven (To record breakago) e Textbook and Media 28 tv 13d-a33a-4fce-a9f1-c1745c28a3e8/questio Question 1 of 6 7.29/22 List of Accounts Your answer is partially correct How much income if anyl was earned in each of these months? (Round answers to decimal places, es 125) February $ March $ Sales revenue 1800 April $ 2500 4600 Cost of goods sold o Gross margin $ 1808 $ e textbook and Media List of Accounts X Your answer is incorrect. What liability of any would appear on the company's statement of financial position at the end of each of these months? (Round answers to decimal places, s. 1250 20792 Balance, February 28 Balance, March 31 18472 Balance, April 30 $ 13872 e Textbook and Media List of Accounts 28 . stv Step by Step Solution
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