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WorstBuy Electronics sold $1,000 in gift cards on a special promotion on October 15, 2024 . Then sold $1,500 in gift cards on another special

WorstBuy Electronics sold $1,000 in gift cards on a special promotion on October 15, 2024. Then sold $1,500 in gift cards on another special promotion on November 15, 2024.

Of the cards sold in October:

$100 were redeemed in October, $250 in November, and $300 in December.

Of the gift cards sold in November

$150 were redeemed in November and $350 were redeemed in December.

WorstBuy knows people lose their gift cards if they don't redeem them within 2 months and so there is only a remote chance the gift card will be redeemed after these 2 months.

At 12/31/2024, WorstBuy would show a deferred revenue account for the gift cards with a balance of:

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