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Deferred Revenue, which represents the company's obligation to honor gift cards previously issued to customers, totaled $5,600 at the beginning of the year and $7,700
Deferred Revenue, which represents the company's obligation to honor gift cards previously issued to customers, totaled $5,600 at the beginning of the year and $7,700 at the end of the year. Customers purchased gift cards amounting to $43,000 during the year. What was the amount of gift cards redeemed by customers during the year? Multiple Choice $45,100 $56,300 $29,700
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