Multiple Choice Question 59 Concord Industries sells gift certificates that are redeemable in merchandise. During 2017. Concord sold gift certificates for $88700 Merchandise with the total price of $52100 was redeemed during the year. For Concord, the cost of the merchandise sold was $31300. Concord sold girt certificates for the first time in 2017. The journal entry recording the sale of the gift certificates will include: a debit to Unearned Revenfor $88700 a credit to Uneamed Revenue for $88700 a credit to Sales for $88700 a debit to Certificate Liability for $88700