In January 2024, Summit Department Store sells card to purchase a water bottle. What is the finan Multiple Choice Increase assets by $100, decrease lia Increase assets by $130 and increase Increase assets by $100, increase lia Increase assets by $130 and increas In January 2024, Summit Department Store sells a gift card for $130 and receives cash. In February 2024, the customer comes back and spends $100 of the gift card to purchase a water bottle. What is the financial statement effect of the sale of the gift card in January? Multiple Choice Increase assets by $100, decrease liabilities by $30, and increase stockholders' equity by $130 Increase assets by $130 and increase liabilities by $130 Increase assets by $100, increase liabilities by $130, and decrease stockholders' equity by $30 Increase assets by $130 and increase stockholders' equity by $130 In January 2024, Summit Department Store sells a gift card for $130 and receives cash. In February 2024, the customer comes back and spends $100 of the gift card to purchase a water bottle. What is the financial statement effect of the sale of the gift card in January? Multiple Choice Increase assets by $100, decrease liabilities by $30, and increase stockholders' equity by $130 Increase assets by $130 and increase liabilities by $130 Increase assets by $100, increase liabilities by $130, and decrease stockholders' equity by $30 Increase assets by $130 and increase stockholders' equity by $130