Question $12$

$5$ pts

In Logan's Yoga Studio experience, gift cards that have not been redeemed within $12$ months are not likely to be redeemed. Logan's Yoga sold gift cards for $$41,950$ during August $2021.$ $$4,300$ of cards were redeemed in September $2021,$ $$8,810$ in October, $$2,610$ in November, and $$2,190$ in December $2021.$ In $2022$ an additional $$1,290$ of cards were redeemed in January and $$935$ in February.

Required: How much liabilities associated with the August $2021$ gift card sales would Logan's Yoga recognize as of January $2022?$