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Phantom Bed & Breakfast Inn opened in 2021 and sold gift certificates that year totaling $15,300. The gift certificates were valid for 6 months and
Phantom Bed & Breakfast Inn opened in 2021 and sold gift certificates that year totaling $15,300. The gift certificates were valid for 6 months and expired after that. During 2021, $4,500 of those certificates were presented for redemption during 2021 and $1,900 expired. How much was debited to the Deferred Revenue account in the adjusting entry for the redemption of the gift certificates?
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Answer Amount debited to Deferred Revenue Ac must be 1530...
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
