TIF sold a gift card to a customer in December for $100. Balance the accounting equation for this gift card purchase.

Select one:

a. Record 100 as Accounts receivable under Assets; Record 100 as Revenue under Owners Equity

b. Record 100 as Cash under Assets; Record 100 as Revenue under Owners Equity

c. Record 100 as Cash under Assets; Record 100 as Deferred revenue under Liabilities

d. Record 100 as Accounts Receivable under Assets; Record 100 as Accounts payable under Liabilities

e. None of the listed answers