Bull's Eye Department Stores,Inc.records $150,000 in gift card sales and receives cash in year 1.Customers redeemed 30% of the gift cards to purchase merchandise in year 2.Which of the following would be included in the summary journal entry to reflect the year 2 redemption transactions?
A) debit Unearned Revenue $45,000
B) credit Unearned Revenue $45,000
C) debit Sales Revenue $105,000
D) credit Sales Revenue $105,000
Correct Answer:
Verified
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