When answering questions 16 through 23, assume that on August 1, 2022 a customer purchased a gift card from Best Buy. The customer paid cash of $50, and then gave the card to a friend. On August 20, 2022, the friend used the card to purchase $50 worth of goods from Best Buy. Assume that: (1) Best Buy's estimate of the gift-card redemption rate is 90 percent and (2) the customer does not have the right to return the goods that they purchased with the gift card. Excerpt about revenue recognition taken from Best Buy's 10-K for the fiscal year that ended on January 28, 2023. Revenue Recognition We generate revenue from the sale of products and services. Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the transaction price consideration that we expect to receive in exchange for those goods or services. Our revenue excludes sales and usage-based taxes collected and is reported net of sales refunds, which includes an estimate of future returns and contract cancellations based on historical refund rates, with a corresponding reduction to cost of sales. We defer the revenue associated with any unsatisfied performance obligation until the obligation is satisfied, i.e., when control of a product is transferred to the customer or a service is completed. Best Buy Gift Cards We sell Best Buy gift cards to our customers in our retail stores, online and through select third parties. Our gift cards do not expire. We recognize revenue from gift cards when the card is redeemed by the customer. We also recognize revenue for the portion of gift card values that is not expected to be redeemed ("breakage"). We estimate breakage based on historical patterns and other factors, such as laws and regulations applicable to each jurisdiction. Gift card breakage income was $59 million, $49 million and $33 million in fiscal 2023, fiscal 2022, and fiscal 2021, respectively. Excerpt about receivables taken from Best Buy's 10-K for the fiscal year that ended on January 28, 2023. Receivables Receivables consist primarily of amounts due from vendors for various vendor funding programs, banks for customer credit card and debit card transactions, online marketplace partnerships and mobile phone network operators for device sales and commissions. Receivables are stated at their carrying values, net of a reserve for expected credit losses, which is primarily based on historical collection trends. Our allowances for uncollectible receivables were $30 million and $39 million as of January 28,2023 , and January 29,2022 , respectively. We had $41 million and $52 million of write-offs in fiscal 2023 and fiscal 2022, respectively. \begin{tabular}{|c|c|c|} \hline A & B & C \\ \hline \multirow{2}{*}{\multicolumn{3}{|c|}{\begin{tabular}{c} Best Buy Co., Inc. \\ Consolidated Balance Sheets \end{tabular}}} \\ \hline & & \\ \hline \multicolumn{3}{|c|}{ \$ millions, except per share amounts } \\ \hline & January 28,2023 & January 29, 2022 \\ \hline \\ \hline \multicolumn{3}{|l|}{ Current assets } \\ \hline Cash and cash equivalents & 1,874 & 2,936 \\ \hline Receivables, net & 1,141 & 1,042 \\ \hline Merchandise inventories & 5,140 & 5,965 \\ \hline Other current assets & 647 & 596 \\ \hline Total current assets & 8,802 & 10,539 \\ \hline Net property and equipment & 2,352 & 2,250 \\ \hline Operating lease assets & 2,746 & 2,654 \\ \hline Goodwill & 1,383 & 1,384 \\ \hline Other assets & 520 & 677 \\ \hline Total assets & 15,803 & 17,504 \\ \hline \multicolumn{3}{|l|}{ Liabilities and equity } \\ \hline \multicolumn{3}{|l|}{ Current liabilities } \\ \hline Accounts payable & 5,687 & 6,803 \\ \hline Unredeemed gift card liabilities & 274 & 316 \\ \hline Deferred revenue & 1,116 & 1,103 \\ \hline Accrued compensation and related expenses & 405 & 845 \\ \hline Accrued liabilities & 843 & 946 \\ \hline Current portion of operating lease liabilities & 638 & 648 \\ \hline Current portion of long-term debt & 16 & 13 \\ \hline Total current liabilities & 8,979 & 10,674 \\ \hline Long-term operating lease liabilities & 2,164 & 2,061 \\ \hline Long-term liabilities & 705 & 533 \\ \hline Long-term debt & 1.160 & 1.216 \\ \hline Total liabilities & 13.008 & 14.484 \\ \hline Common stock & 22 & 23 \\ \hline Additional paid-in capital & 21 & 0 \\ \hline Retained earnings & 2,430 & 2,668 \\ \hline Accumulated other comprehensive income & 322 & 329 \\ \hline Total equity & 2,795 & 3,020 \\ \hline Total liabilities and equity & 15,803 & 17,504 \\ \hline \end{tabular} On the day the customer's friend redeemed the card, what effect did the redemption have on Best Buy's equity? Ignore the effect, if any, on cost of sales and inventory. Your answer should be in dollars. If the effect is positive (negative) enter the answer as a positive (negative) amount. When answering questions 16 through 23, assume that on August 1, 2022 a customer purchased a gift card from Best Buy. The customer paid cash of $50, and then gave the card to a friend. On August 20, 2022, the friend used the card to purchase $50 worth of goods from Best Buy. Assume that: (1) Best Buy's estimate of the gift-card redemption rate is 90 percent and (2) the customer does not have the right to return the goods that they purchased with the gift card. Excerpt about revenue recognition taken from Best Buy's 10-K for the fiscal year that ended on January 28, 2023. Revenue Recognition We generate revenue from the sale of products and services. Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the transaction price consideration that we expect to receive in exchange for those goods or services. Our revenue excludes sales and usage-based taxes collected and is reported net of sales refunds, which includes an estimate of future returns and contract cancellations based on historical refund rates, with a corresponding reduction to cost of sales. We defer the revenue associated with any unsatisfied performance obligation until the obligation is satisfied, i.e., when control of a product is transferred to the customer or a service is completed. Best Buy Gift Cards We sell Best Buy gift cards to our customers in our retail stores, online and through select third parties. Our gift cards do not expire. We recognize revenue from gift cards when the card is redeemed by the customer. We also recognize revenue for the portion of gift card values that is not expected to be redeemed ("breakage"). We estimate breakage based on historical patterns and other factors, such as laws and regulations applicable to each jurisdiction. Gift card breakage income was $59 million, $49 million and $33 million in fiscal 2023, fiscal 2022, and fiscal 2021, respectively. Excerpt about receivables taken from Best Buy's 10-K for the fiscal year that ended on January 28, 2023. Receivables Receivables consist primarily of amounts due from vendors for various vendor funding programs, banks for customer credit card and debit card transactions, online marketplace partnerships and mobile phone network operators for device sales and commissions. Receivables are stated at their carrying values, net of a reserve for expected credit losses, which is primarily based on historical collection trends. Our allowances for uncollectible receivables were $30 million and $39 million as of January 28,2023 , and January 29,2022 , respectively. We had $41 million and $52 million of write-offs in fiscal 2023 and fiscal 2022, respectively. \begin{tabular}{|c|c|c|} \hline A & B & C \\ \hline \multirow{2}{*}{\multicolumn{3}{|c|}{\begin{tabular}{c} Best Buy Co., Inc. \\ Consolidated Balance Sheets \end{tabular}}} \\ \hline & & \\ \hline \multicolumn{3}{|c|}{ \$ millions, except per share amounts } \\ \hline & January 28,2023 & January 29, 2022 \\ \hline \\ \hline \multicolumn{3}{|l|}{ Current assets } \\ \hline Cash and cash equivalents & 1,874 & 2,936 \\ \hline Receivables, net & 1,141 & 1,042 \\ \hline Merchandise inventories & 5,140 & 5,965 \\ \hline Other current assets & 647 & 596 \\ \hline Total current assets & 8,802 & 10,539 \\ \hline Net property and equipment & 2,352 & 2,250 \\ \hline Operating lease assets & 2,746 & 2,654 \\ \hline Goodwill & 1,383 & 1,384 \\ \hline Other assets & 520 & 677 \\ \hline Total assets & 15,803 & 17,504 \\ \hline \multicolumn{3}{|l|}{ Liabilities and equity } \\ \hline \multicolumn{3}{|l|}{ Current liabilities } \\ \hline Accounts payable & 5,687 & 6,803 \\ \hline Unredeemed gift card liabilities & 274 & 316 \\ \hline Deferred revenue & 1,116 & 1,103 \\ \hline Accrued compensation and related expenses & 405 & 845 \\ \hline Accrued liabilities & 843 & 946 \\ \hline Current portion of operating lease liabilities & 638 & 648 \\ \hline Current portion of long-term debt & 16 & 13 \\ \hline Total current liabilities & 8,979 & 10,674 \\ \hline Long-term operating lease liabilities & 2,164 & 2,061 \\ \hline Long-term liabilities & 705 & 533 \\ \hline Long-term debt & 1.160 & 1.216 \\ \hline Total liabilities & 13.008 & 14.484 \\ \hline Common stock & 22 & 23 \\ \hline Additional paid-in capital & 21 & 0 \\ \hline Retained earnings & 2,430 & 2,668 \\ \hline Accumulated other comprehensive income & 322 & 329 \\ \hline Total equity & 2,795 & 3,020 \\ \hline Total liabilities and equity & 15,803 & 17,504 \\ \hline \end{tabular} On the day the customer's friend redeemed the card, what effect did the redemption have on Best Buy's equity? Ignore the effect, if any, on cost of sales and inventory. Your answer should be in dollars. If the effect is positive (negative) enter the answer as a positive (negative) amount