Noah sells gift cards redeemable for Noah products either in-store or online. During 2018, Noah sold $5,400,000 of gift cards, and $4,600,000 of the gift cards were redeemed for products. As of December 31, 2018, $350,000 of the remaining gift cards had passed the date at which Noah concludes that the cards will never be redeemed. How much gift card revenue should Noah recognize in 2018? $5,400,000 $4,600,000 $5,750,000 $4,950,000