Question
Botanical Spas sells $2,500 worth of gift certificates in November and December. 25% of the gift certificates are redeemed in December prior to the December
Botanical Spas sells $2,500 worth of gift certificates in November and December. 25% of the gift certificates are redeemed in December prior to the December 31 year end. The entry to record the sale of the gift certificates is
a. Dr. Cash, Cr. Gift Card Revenue.
b. Dr. Gift Card Revenue, Cr. Gift Card Liability.
c. Dr. Prepaid Gift Cards, Cr. Gift Card Revenue.
d. Dr. Cash, Cr. Gift Card Liability.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Measurement And Internal Audit Operations
Authors: Andrew Fight
1st Edition
184112401X, 978-1841124018
