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Assume that the company sold 10 gift cards to customers for $20 cach in December. The customers pay cash in December. The customers use the

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Assume that the company sold 10 gift cards to customers for $20 cach in December. The customers pay cash in December. The customers use the 6 gifts cards in January and the 4 gift cards in February. Explain when revenue should be recognized. Be sure to use GAAP to support your answer. ( 8 marks)

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