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Oriole Bakery began selling gift cards in 2 0 2 5 . Based on industry norms, they expect that 4 0 % of the gift

Oriole Bakery began selling gift cards in 2025. Based on industry norms, they expect that 40% of the gift cards will not be redeemed. In 2025, the bakery sold gift cards with a value of $2300. During that period, gift cards with a value of $575 were redeemed. The amount of revenue that Oriole will recognize in 2025 with regard to the gift cards is
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