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Question 21 (3 points) Costington's Department Store Costington's sells $50,000 of gift cards in May of 2009. These gift cards may be used anytime before

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Question 21 (3 points) Costington's Department Store Costington's sells $50,000 of gift cards in May of 2009. These gift cards may be used anytime before their expiration on May 31, 2010. Refer to the information for Costington's. On May 31, 2010, all but $1,500 of the gift cards had been redeemed for salon services. Which of the following is the correct journal entry for Petra to record for the expired gift cards? Unearned Sales Revenue 1,500 Accounts Payable 1,500 Unearned Sales Revenue 1,500 Sales Revenue 1,500 Unearned Sales Revenue 1,500 Accounts Payable 1,500 Unearned Sales Revenue 1,500 Sales Revenue 1,500 Loss on Gift Cards 1,500 Sales Revenue 1,500 No entry is necessary

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