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Bull's Eye Department Stores, Inc. records $170,000 in gift card sales and receives cash in year 1. Customers redeemed 20% of the gift cards to
Bull's Eye Department Stores, Inc. records $170,000 in gift card sales and receives cash in year 1. Customers redeemed 20% of the gift cards to purchase merchandise in year 1. The company estimates breakage as 12% and uses the proportional method. How much breakage revenue should be recorded st the end of year 1? (Round any intermediary percentages two decimal places, XXX%. Round your final answer to the nearest dollar.) answer: $4,637 please show explanation and calculation!
answer: $4,637
please show explanation and calculation!
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