Question
In Lizzie Shoes experience, gift cards that have not been redeemed within 12 months are not likely to be redeemed. Lizzie Shoes sold gift cards
In Lizzie Shoes experience, gift cards that have not been redeemed within 12 months are not likely to be redeemed. Lizzie Shoes sold gift cards for $21,200 during August of 2016. $3,800 of cards were redeemed in September of 2016, $3,330 in October, $3,130 in November, and $2,430 in December of 2016. In 2017 an additional $1,160 of cards were redeemed in January and $505 in February.
| How much gift card revenue associated with the August 2016 gift card sales would Lizzie get to recognize in 2016 and 2017? |
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Auditing A Risk Based Approach to Conducting a Quality Audit
Authors: Karla Johnstone, Audrey Gramling, Larry E. Rittenberg
10th edition
1305080572, 978-1305465664, 1305465660, 978-1305080577
