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On March 31, 2021, a company sells $1,200 of gift cards to customers. The gift cards expire one year from the date of sale. What
On March 31, 2021, a company sells $1,200 of gift cards to customers. The gift cards expire one year from the date of sale. What entry should the company record on March 31, 2021? Multiple Choice O Debit Sales Revenue, $1,200, credit Cash, $1.200. No journal entry is necessary. Oo oo Debit Cash, $1.200; credit Deferred Revenue, $1.200, Debit Cash $1,200, credit Sales Revenue, $1,200
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