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 required year-end adjusting entry is
Dr. Revenues $625, Cr. Gift CardLiability$625.
Dr. Revenues $1,875, Cr. Gift CardLiability$1,875.
Dr. Gift CardLiability$625, Cr. Revenues $625.
Dr. Gift Card Revenues $1,875, Cr. Revenues $1,875.
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins
4th Edition
0073527092, 978-0073527093
