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Exercise 10-6 Bridgeport Department Store sells gift certifices that are redeemable in merchandise. During 2017, Bridgeport sold gift certificates for $84,700, Merchandise with the total
Exercise 10-6 Bridgeport Department Store sells gift certifices that are redeemable in merchandise. During 2017, Bridgeport sold gift certificates for $84,700, Merchandise with the total price of $49,600 was redeemed during the year. The cost of the sold merchandise to Bridgeport was $33,100, Bridgeport sold gift certificates for the first time in 2017 Record the sale of the get certificates. (Credit account titles are automatically invited when the mount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts) Account Titles and Explanation (Sold of certificates.) Record the redemption during 2017. Assume that Bridgeport use the perpetual story wrthod (Credit c a tly I meetry requires "Neentry for the ar ticles and were for the amounts) a re automatically indeed when the amount is entered. Do not indert Account Titles and Explanation (Made sales.) (Cost of invertory sold) SH LIST DE M ANES LINE TO TEXT Compute the balance in the uneamed revenue account as of December 31, 2018, assuming that it certificates were sold for 560,400 n 2018 and merchandise with a total price of $77,700 was redeemed Balance in the Unearned Revenue Account LINK TO TEXT
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