Question
Vail is one of the largest ski resrots in the United States. Suppose that on October 1, 2024. Vail sells gift cards (lift passes) for
Vail is one of the largest ski resrots in the United States. Suppose that on October 1, 2024. Vail sells gift cards (lift passes) for $109,000. The gift cards are redeemable for one day of skiing during the upcomming winter season. The gift cards expire on April1, 2025. Customers redeem gift cards of $20,900 in December. $30,900 in January. $25,900 in February and $15,900 in march Record the sale of gift cards on October 1 2024
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Record the redemption of gift cards as of December 31, 2024
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